Apollo Hospital in talks with Parkway for alliance; stk up/news05012012

According to reports, Apollo Hospitals Enterprise's is in talks with Parkway Holdings, a Singapore-based hospital operator, on a prospective tie-up for domestic and overseas expansion.

Reacting to this, shares of the company rose nearly by 4%, touching the weekly high of Rs589. Till now, over 0.67 lakh shares have traded on the BSE as against the two-week average volume of 1.97 lakh shares.

Apollo Hospitals is in talks with Parkway Holdings to expand in the Indian sub-continent, Middle East and Africa. Malaysian sovereign wealth fund Khazanah Nasional bought Parkway in July, 2010, for $2.56 billion and paid Rs470 crore for a minority stake in Apollo Hospitals.
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