Dr Lal PathLabs shares jumped over 2 per cent in the early trade on Friday on reports that the diagnostic services provider is planning to expand its footprint across India. While deepening its presence in the North Indian market where it already has a strong presence, the company is looking to scale up in other parts of the country as well.
At 11.03 am, shares of Dr Lal PathLabs were trading 0.80 per cent up at Rs 996. The scrip opened at Rs 999.90 and has touched a high and low of Rs 1013.15 and Rs 992, respectively, in trade so far. Later, share price of the company closed 0.58 per cent up at Rs 993.75.
Since listing on December 23, 2015, the share price of the company jumped nearly 80 per cent to Rs 988.05 till June 9, 2015 against the issue price of Rs 550.
For the rest of the country and particularly in the South and West, the company is taking a cluster approach by growing around cities and towns where it sees potential and in the long term building towards a regional reference laboratory model.
As on March 31, 2016, Dr LalPath Labs has 172 clinical labs, including a national reference lab in Delhi, 1,559 patient service centres and 4,967 pick-up points.
Dr Lal PathLabs is a provider of diagnostic and related healthcare tests and services in India. Through its integrated, nationwide network, the company offers patients and healthcare providers a broad range of diagnostic and related healthcare tests and services for use in core testing, patient diagnosis and the prevention, monitoring and treatment of disease and other health conditions.
(With agency inputs)