The stock of Apollo Hospitals jumped close to 5 per cent to trade at Rs 808 on the BSE around noon.
Bloomberg had on Monday reported that its founder Prathap C. Reddy is planning to acquire part-stake held by PE firm Apax Partners LLP. About 32,000 shares changed hands against its two-week average of 12,000 shares.
However, the stock did not react to the news on Tuesday. The stock’s 52-week high and low are Rs 902.85 and Rs 553.
Apax Partners owns about 9.67 per cent in Apollo Hospitals as of December 2012.
Global private equity major Apax Partners had in August 2007 picked up 11.5 per cent stake in Apollo Hospitals for $104 million (Rs 426.40 crore) through preferential route. Since last September, it has been diluting its stake.