Shares of Max India tanked over 5 per cent on Monday after the Delhi government cancelled the licence of Max Hospital-Shalimar Bagh. Max India is the holding company of Max Healthcare.
Following a weak open at Rs 132 against the previous close of Rs 134.30, the scrip touched an intraday low of Rs 127.30 in the evening trade. In terms of equity volume, 0.49 lakh shares exchanged hands on the BSE.
The company shares ended down by 4.65 per cent at Rs 128.05.
The hospital chain’s Shalimar Bagh entity, which had declared a live baby dead, has lost its licence with immediate effect.While existing patients at the hospital can either continue treatment or transfer to a different facility, the hospital will not be allowed to take in new patients.
The Delhi government had on Friday issued an order cancelling Max Hospital-Shalimar Bagh’s licence, following this case.