Aster DM Healthcare shares hit record high as board declares special dividend

Shares of Aster DM Healthcare zoomed to their record high in early deals on Monday after the firm's board approved a specila dividend of Rs 118 per equity share last week.

The hospitality chain said in a regulatory filing to the stock exchanges that the dividend will be payable to those shareholders whose names stand on the register of members of the company as on April 23-the record date set for the dividend. The dividend will be paid within 30 days.

Aster DM Healthcare shares climbed 14.41% to Rs 558.30 against the previous close of Rs 487.95 on BSE. Market cap of the firm rose to Rs 26,783 crore.

 Total 5.22 lakh shares changed hands amounting to a turnover of Rs 28.48 crore on BSE.

Aster DM Healthcare stock has a one-year beta of 0.3, signaling low volatility during the period. In terms of technicals, the relative strength index (RSI) of Aster DM Healthcare stood at 66, signaling it's trading neither in the overbought nor in the oversold zone.

Aster DM Healthcare shares have rallied 112.47% in a year and risen 31% in 2024.

The company's board has decided not to declare an interim dividend for the financial year 2023-24 (FY24). However, it may consider declaration of final dividend at the board meeting considering the approval of audited financial statements for FY24, said Aster DM Healthcare in its exchange filing.

Aster DM Healthcare is primarily involved in the operations of healthcare facilities, retail pharmacies, and providing consultancy in areas relating to healthcare.