Why Hospital stocks Apollo, Max, Fortis, KIMS are down up to 6% on Wednesday
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Hospital stocks Apollo, Max, Fortis, and KIMS fell up to 6% on Wednesday, September 30.
- ✓The Supreme Court questioned high drug markups in hospitals during a Public Interest Litigation hearing.
- ✓Investors got worried after the court flagged how drugs costing ₹2,700 are billed at ₹27,000 to patients in many hospitals.
Story at a Glance
- Category
- MARKET
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Explained - Why Hospital stocks Apollo, Max, Fortis, KIMS are down up to 6% on Wednesday
A Public Interest Litigation was being heard by the Supreme Court on price fixation of drugs, mandates for generics. The government was also questioned by the Apex Court as to why there is no 16% mark up across all drugs and devices.
Shares of Hospital Stocks Apollo Hospitals Ltd., Fortis Healthcare Ltd., Max Healthcare Ltd., Krishna Institute of Medical Sciences Ltd., Narayana Health Ltd., Global Health Ltd. among others are all trading with losses between 5% to 6% on Wednesday, September 30.
Four out of the top five losers on the Nifty 500 index are hospital stocks. Both Apollo, KIMS and Fortis are trading with losses of 5.5% each, while Max Health shares fell as much as 6% before seeing a small recovery to now trade 4.5% lower.
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