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Park Medi World shares drop after Supreme Court drug price cap hearing
The stock has fallen about 15% over the past month, with a 7% plus drop on the day, and is trading below key resistance near ₹260.
Park Medi World shares fell for a second straight session after a Supreme Court hearing on a drug price cap increased selling pressure on hospital stocks, LiveMint Markets reported.
The outlet said the stock has lost around 15% over the past month, including an intraday drop of over 7% on the day. It opened at ₹242.20 on the NSE, hit an intraday low of ₹229.10, and closed at ₹236.
LiveMint Markets also cited market experts who pointed to a resistance level near ₹260, saying a break above it could open the way toward ₹300. They also flagged a downside support zone between ₹210 and ₹200.
Experts quoted by LiveMint Markets said Park Medi World is viewed as a money-maker in the hospital segment due to fundamentals, including plans to expand bed capacity for long-term investors.