Shares of Hinduja Global Solutions, a part of the multi-billion-dollar conglomerate Hinduja Group, have rallied 17 per cent to hit 52-week high of Rs 1,147.70 on the Bombay Stock Exchange (BSE) on Friday after its subsidiary partnered with Parkland Community Health Plan (PCHP) to provide disease management services. The stock has surged 25 per cent in the last three trading sessions.
In an exchange filing, Hinduja Global Solutions (HGS), a business process management organisation, on Friday said that its subsidiary, HGS Axis Point Health, has partnered with PCHP to provide disease management services to approximately 195,000 Medicaid beneficiaries in a seven-county area in North Texas.
Following the announcement, Hinduja Global Solutions share price rallied as much as 16.9 per cent to touch 52-week high of Rs 1,147.70 after opening higher at Rs 990.60 against the previous closing price of Rs 981.70. The market cap of the Hinduja Group company rose to Rs 2,356.58 crore.
On the volume front, there was spurt in volume trade as 10,000 shares changed hands over the counter as compared to two-week average volume of 2,003 shares.
On the National Stock Exchange, Hinduja Global Solutions shares were trading at Rs 1,128.55, up 14.84 per cent, against previous closing price of Rs 982.70. During the day's trade, the stock hit a record high of Rs 1,148.
On partnership with PCHP to support Medicaid beneficiaries in North Texas, Ramesh Gopalan, President of HGS Healthcare, said, "We are excited to help improve the health and wellness of PCHP's Medicaid members."
"Our analytics, clinical expertise, program communications and care management will help identify and address PCHP's most impactable asthmatic and diabetic members," said ZacFritz, CEO, HGS Axis Point Health.
"This is an opportunity to support PCHP's members by changing behaviour to improve their health and reduce medical expense."
HGS and PCHP will begin the implementation process this month, with operations slated to launch in January 2021. This partnership will enable PCHP to deliver elite care management by focusing on productive, dynamic engagement with targeted, impactable members, the Hinduja Group company said.
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