The shares of Park Medi World rose as much as five per cent to hit a fresh 52-week high during the intraday trade on Tuesday despite subdued sentiment in the stock market.
The shares of the North-India-based hospital chain started the session in green at Rs 290.80 as compared to the last day’s closing of Rs 289.70 amid buying sentiment. The healthcare stock extended the momentum further to hit a fresh high at Rs 303.70 on NSE, up 4.83 per cent from the last closing.
Last seen, the stock was trading at Rs 300.20, up 3.62 per cent. Meanwhile, it’s 52 week low value stood at Rs 138.10.
The buying interest in the healthcare stock was fueled by an expansion announcement made by the company. In an exchange filing on Tuesday, Park Medi World Ltd said that Umkal Health Care Private Limited, a wholly-owned subsidiary of the Company, approved expansion of its existing 225-bed Park Hospital in Palam Vihar, Gurugram, with the addition of 100 new beds.
“The newly expanded facility will be branded Park Hospital Platinum and is slated to commence operations in November 2026,” the filing said.
Share Price History
The stock surged over 100 per cent this year till date (YTD) after the company shares made their stock market debut in December last year. In the last six months, the scrip rose 105 per cent, and in a month it jumped nearly 10 per cent. In the last 5 days, the stock escalated by over 4 per cent.
Stock Market Today
The key domestic equity indices were trading in negative territory in afternoon trade as investors remained cautious amid renewed tension in the Middle East. Last seen, BSE Sensex was trading at 76,487.94, 0.31 per cent or 240.43 points. NSE’s Nifty was quoted at Rs 23,890.80, 0.23 per cent or 55.45 points.