Max India Gains After Selling 26% of Unit to Life Healthcare
Max shares climbed 3.8 percent to 184.70 rupees at 9:54 a.m. Open interest in the company’s futures, or the number of contracts held by traders, soared 77 percent to 496, according to Bloomberg data. Its October futures were at 185.80.
The stake, worth about 850 million rand ($107 million), will be paid for in cash, Johannesburg-based Life Healthcare said in a statement yesterday after Indian markets closed. Max Healthcare provides private hospital care in New Delhi region.
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