The shares of ParkMedi World Ltd escalated over 3 per cent on Tuesday, October 6, amid a rebound in healthcare stocks as the Nifty IT index was trading over 1.5 per cent higher to 26,518.35 in afternoon trade. Last seen, the healthcare stock was trading at Rs 272.15, up 1.64 per cent or Rs 4.40. Earlier, the scrip hit a day high at Rs 275.95, up 3.17 per cent as compared to the last close of Rs 267.75 on NSE.
Meanwhile, 52-week high and 52-week low values stood at Rs 305 and Rs 168.10, respectively.
The Park Medi World Ltd shares likely remain on investors' radar today after the company announced that proposed caps on cancer and chemotherapy drug prices will have a negligible impact on its financial performance.
Pharma stocks have been under pressure for the past few sessions, following the Supreme Court's comments asking the Centre whether it should impose similar caps on retail prices of medicines and medical devices to prevent excessive markups on prices charged by retailers.
The apex court asked why not cap the maximum retail price (MRP) at no more than 16 per cent of the price paid to the retailer (PTR)---especially for the life-saving drugs.
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Nifty Pharma Index
Nifty Pharma index was down nearly 2 per cent in the past week, with heavyweights like Abbott India, Cipla and other stocks traded in negative territory.
However, the Index is up over 21 per cent in the past six months, while it jumped 3 per cent in the last three months despite volatility in the domestic stock market.
Share Price History
The Park Medi World shares remained in action this year so far, rising over 80 per cent year to date (YTD). In the last six months, the scrip rose over 38 per cent. However, in a month it declined over 4 per cent.
Will The Supreme Court Observation Affect the Company’s Operations
The company clarified that oncology and chemotherapy treatments make up under 2 per cent of its total revenue. It emphasised its reliance on a volume-based operational strategy, generating an average revenue per occupied bed (ARPOB) of Rs 30,444—substantially lower than the Rs 68,000–Rs 82,000 observed in major metropolitan hospital networks. "Park prioritises high patient turnover over elevated drug markups," stated the organisation.
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Incorporates subsidiary to set up 550-bed hospital
In addition, Park Medi World revealed the formation of a wholly owned subsidiary aimed at building and managing a 550-bed multi-super-speciality facility in Uttar Pradesh.
According to a regulatory filing, this subsidiary was set up to carry out a Public-Private Partnership (PPP) project granted by the Prayagraj Municipal Corporation, with the parent company retaining full ownership of the new healthcare unit.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.