Yatharth Hospitals share: Shares of Yatharth Hospitals and Trauma Care Services Limited closed in the red for the 14th consecutive day today, January 21. During this period, the company’s shares have fallen by about 26 percent. This stock closed at Rs 434 on BSE today with a decline of 0.97 per cent. This stock has declined in almost every trading session in the month of January, except January 1 i.e. New Year’s Day. With this decline, the market cap of the company has come down to Rs 4097.47 crore. The stock’s 52-week high is Rs 692.85 and 52-week low is Rs 366.30.
Yatharth Hospitals shares fall 30% from QIP issue price
Today, with Mangalwal’s fall, the stock of Yatharth Hospitals has fallen by more than 30 percent from its issue price at which it had recently sold shares to institutional investors under Qualified Institutional Placement (QIP).
As part of its fund raising process, which was completed on December 24 last year, Yatharth Hospitals had raised Rs 625 crore by selling shares to Citigroup, Societe Generale and other institutions. Yatharth Hospitals had issued shares to these institutions at ₹595 per share.
Brokerage ends coverage on Yatharth Hospitals
Last week, brokerage firm Ambit ended its coverage on Yatharth Hospitals. This was mainly attributed to the ongoing Income Tax (IT) investigation against the company, which Ambit called a “matter of concern”. The Income Tax Department had raided Yatharth Hospitals in October 2023. The brokerage had earlier set a target price of ₹760 on Yatharth Hospitals, along with a “Buy” recommendation.
“The recent move by authorities to seize multiple assets and equity shares in three subsidiary companies is a matter of concern. Given our inability to assess the potential fallout or impact, we drop coverage on the stock,” Ambit wrote in its note. Are doing.”
At Yathar Hospitals October 2023 The raid was conducted by the Income Tax Department. This investigation raises questions on the financial transparency and tax compliance of the company. The investigation into the matter is still ongoing, and the absence of any clear conclusion has increased uncertainty among investors.
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