- Yatharth Hospital shares fell to a three-month low after multiple block deals at Rs 720 each
- Promoters likely sold stakes as 4.4 lakh shares changed hands in block deals
- Q2 net profit rose 33.3% to Rs 41.2 crore; revenue increased 28.3% to Rs 279 crore
Yatharth Hospital & Trauma Care Services Ltd. share price plunged to the lowest level in nearly three months after multiple block deals. Promoters of the company likely have offloaded stakes in the hospital, according to people in the know.
Neena Tyagi, promoter of Yatharth Hospital & Trauma Care Services, offloaded 56.33 lakh shares or 5.8% stakes in the company. Tyagi sold the shares at Rs 716.98 apiece, which indicated a deal size of Rs 403.93 crore.
Graviton Research Capital LLP, Mansi Share and Stock Broking Pvt. Ltd., Share India Securities Ltd. sold a total of 21.17 lakh shares or 2.9% stake of the hospital.
On Friday, Yatharth Hospital & Trauma Care Services saw its 1.12 crore shares changed hands at the price of range of Rs 712.51–721.89 apiece, according to data on National Stock Exchange website.
Yatharth Hospital Q2 Earnings Key Highlights (Cons, YoY)
Net Profit rose 33.3% to Rs 41.2 crore versus Rs 30.9 crore
Revenue rose 28.3% to Rs 279 crore versus Rs 218 crore
Ebitda rose 18.3% to Rs 64.5 crore versus Rs 54.5 crore
Margin at 23.1% versus 25%
Yatharth Hospital & Trauma Care share price plunged 9.80% to Rs 696.35 apiece, the lowest level since Sept 2. The stock declined for the second session in a row. The scrip was trading 7.97% down at Rs 710.95 apiece as of 12:41 p.m., as compared to 0.06% advance in the NSE Nifty 50 index.
The stock advanced 25.3% on a year-to-date basis. Total traded volume so far in the day stood at 60 times its 30-day average. The relative strength index was at 34.67, which implied the stock was oversold.
Eight analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 31.4%.
About Yatharth Hospital & Traum Care Centre
Yatharth Hospital & Traum Care Centre has 2,500 beds across eight hospitals that the company operates. Out of its total hospitals, five are super-specialty hospitals concentrated in the north India.
The Yatharth Hospital Group boasts of world-class infrastructure and advanced technology, which assists the company in delivering holistic care to patients.
National Accreditation Board for Hospitals has accredited Yatharth Super Facility Hospitals. Its Super Facility Hospital, based in Greater Noida, has received the Joint Commission International accreditation.
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