Stocks of hospital/healthcare companies have taken a beating in the last two trading sessions.
Max Healthcare, one of the largest hospital chains of India, has tanked 16 per cent in just two days till Friday's intraday deals. Apollo Hospitals, the biggest hospital chain, slipped 4.7 per cent during this period. Medanta's parent firm Global Health and Fortis Hospitals also took a beating for a second straight day as the stocks of the companies were trading about 6 per cent below the highs seen on Wednesday.
Overall, the healthcare index of the National Stock Exchange (NSE) was down by 0.7 per cent during Friday's intraday deals, as compared to the 1.5 per cent rise in Nifty 50.
Why healthcare stocks are down
In a PIL filed by an NGO, the petitioner wanted to know if the fees charged from patients were in line with the Clinical Establishment Rules, 2012.
The Clinical Establishment Act mandates the central government to collaborate with states and union territories (UTS) to determine hospital rates. Consequently, the Supreme Court has directed the secretary of the department of health to work with states and UTs to create a proposal within six weeks.
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