A day after GQG Partners bought a 0.8 per cent stake in Max Healthcare Institute in a block deal for around ₹418 crore, there was another block deal on Tuesday with over 38.2 lakh shares, or 0.4 per cent stake, changing hands at ₹560 each.

The value of the deal was around ₹214 crore. The entity involved in the deal could not be immediately ascertained.

Shares of Max Healthcare have appreciated 28 per cent in the last 90 days and over 50 per cent over a 52-week period. During the respective periods the Nifty Pharma index has appreciated 3.2 per cent and depreciated 4.2 per cent.

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Several brokerages have put the stock on their ‘buy’ list after the company’s performance in the fourth quarter surpassed street expectations. Prabhudas Lilladher, which has raised the stock’s target price to ₹565 a share from ₹500 earlier with a ‘buy’ recommendation, said that the company has shown phenomenal growth in the last two years. It expects the momentum to continue on the back of strong expansion plans and a scale-up in its labs.

Motilal Oswal has raised the target price to ₹600, factoring in a tariff hike for patients working with public sector units, ramping up occupancy in recently added beds, and a scale-up in the non-captive pathology business. It also has significant land banks in Delhi, which should help its brownfield expansion.

Shares of Max Healthcare ended almost flat at ₹553.75 on the NSE.