On June 28, Shalby shares zoomed 8% to hit a 52-week high in early trade, a day after the company signed a contract with Ranchi’s Divine Super Specialty Hospital for a franchise-owned-Shalby-managed (FOSM) hospital set up in the region. Divine, having a capacity of 60 beds.

As per the terms mentioned, Shalby will deliver its expertise, operational guidance, specialist doctor services, supply chain, knowledge, and development support to ease the establishment and smooth functioning of the hospital. Divine Super Specialty Hospital (Franchisee) is responsible for the hospital’s daily operations.

At 9.24 am, Shalby shares were trading 6.5% higher at Rs 178.40 on the NSE. The stock recorded a 52-week high of Rs 180.35 intraday.

With this deal, Shalby continued with the capacity expansion across the hospital sector to rein in the robust demand trajectory for healthcare services. Many other hospitals proceed with aggressive capital expenditure to raise their offerings, dive into tier II and tier III cities and expand their capacities.

Moreover, the optimistic sentiment around hospital stocks amid solid growth prospects, robust capex and buoyant demand also aided gains for the stock.
Likewise, the multi-speciality hospital chains’ shares rose 44% in the past three months, outclassing most other listed hospitals.