Hospital Stocks Lose Over Rs 16,000 Crore In Market Cap After Supreme Court Rap
The order came on a PIL that highlighted disparity between charges for various healthcare treatments in government and private hospitals.
Market cap of hospital stocks fell by over Rs 16,000 crore on Thursday after the Supreme Court asked the Union government to address the discrepancy in healthcare charges.
Under the Clinical Establishment Rules, the apex court asked the central government to take immediate action and determine fees chargeable to patients, according to media reports.
The disparity between charges for various healthcare treatment in government and private hospitals came into the Supreme Court's attention after a public interest litigation was filed by an NGO, Veterans Forum for Transparency in Public Life.
Hospitals Stock Trade In Red
Shares of hospital chains tumbled on Thursday as sentiment turned negative following Supreme Court's observation. The market cap fell Rs 16,177.68 crore to Rs 3.34 lakh crore as of 3:30 p.m.
On BSE, Max Healthcare Institute slumped over 9.01% to Rs 773.340, and the Rainbow Children's Medicare Ltd dropped 6.58% to Rs 1,346.70.
Apollo Hospitals Enterprise Ltd., Fortis Healthcare Ltd. fell 4.16% and 2.40% during the day respectively.
