Healthcare stock Park Medi World traded higher during Wednesday’s session, bucking the broader sell-off in the Indian equity market. The stock opened at ₹282.40 per share on September 9, compared with its previous close of ₹282.25 on Tuesday.
Park Medi World share price touched an intraday high of ₹285.65, moving closer to record high of ₹305 and a low of ₹281.15 during Wednesday’s trade. As of 1:15 pm, the company’s market capitalisation stood at ₹12,202.05 crore.
The healthcare stock has delivered 40% returns in six months and multibagger returns of 135% returns in the last one year.
On the other hand, benchmark indices Sensex and Nifty fell sharply in early trade on Wednesday as rising tensions in West Asia drove crude oil prices close to the $100-per-barrel level. The 30-share BSE Sensex plunged 500.25 points to 75,060.61, while the 50-share NSE Nifty dropped 129.40 points to 23,506.10.
In an exchange filing on Wednesday, Park Medi World said that it has established a wholly-owned subsidiary, Park Medicity Prayagraj Limited, to develop its upcoming 550-bed multi-super-speciality hospital in Uttar Pradesh under the Public-Private Partnership (PPP) model.