Park Medi World Shares Reach All-Time High Amid Market Decline
Healthcare stock Park Medi World hits record high despite stock market crash
Mint
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Park Medi World shares surged by 2.16% to a record ₹245.40 despite a broader market downturn, with the Sensex and Nifty 50 indices falling over 0.7%. The company is expanding its healthcare services through a new wholly-owned subsidiary, Healplus Medical Services.
- 01Park Medi World shares hit a record high of ₹245.40.
- 02The stock gained 23% in one month and 55% in three months.
- 03The broader Indian stock market faced a decline, with Sensex and Nifty 50 dropping over 0.7%.
- 04Park Medi World announced the formation of a new subsidiary for healthcare services.
- 05The stock has delivered 62% returns year-to-date.
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Park Medi World shares rose 2.16% to reach a record high of ₹245.40 on Tuesday, even as the broader Indian stock market experienced a downturn, with the benchmark indices, Sensex and Nifty 50, falling over 0.7%. The company's strong performance is notable, as it has gained 23% in the past month and 55% over the last three months, delivering 62% returns year-to-date. This rise follows the announcement of a new wholly-owned subsidiary, Healplus Medical Services, aimed at expanding its healthcare and ancillary services. Park Medi World shares debuted on the Indian stock market on December 17 at ₹158, initially trading at a discount to its issue price of ₹162. Currently, the stock is trading significantly above both its issue and listing prices.
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The strong performance of Park Medi World may boost investor confidence in the healthcare sector, potentially leading to increased investments and job creation in related industries.
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