Krsnaa Diagnostics Ltd, a service provider in radiology and pathology, witnessed a 10.79 per cent decline in its share price. The business disclosed cancelling the “Letter of Acceptance” from the National Health Mission, Rajasthan.
The acceptance was initially granted to Krsnaa Diagnostics Ltd for providing “Laboratory Services under the Free Diagnostics Initiative on HUB and SPOKE Model under NHM” across the entire state of Rajasthan. As part of the consortium with Telecommunications Consultants India Ltd (TCIL) as the lead bidder, the company secured this opportunity.
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However, the cancellation stemmed from disagreements over providing additional performance security as mandated by the tender. Despite making various representations and assuring full compliance, the authorities revoked the acceptance letter.
The share price went down by 10.79 per cent to Rs. 475.50 at 10:11 am on BSE.