Medplus Health Services: Despite a suspension order issued to one of its subsidiaries by the Drugs and Control Authorities of Mahabubnagar, Telangana, Medplus Health Services witnessed a 3 percent increase in its shares during early trading on February 26.
By 9:37 am, Medplus Health Services was priced at Rs 710.10, marking a rise of Rs 20.90 or 3.03 percent on the BSE.
The Assistant Director of the Drugs Control Administration in Mahabubnagar, Telangana, has issued a temporary suspension of the drug license for a store situated in Wanaparthy, Mahabubnagar, for nine days.
The company received the order on February 23 and projected a potential revenue loss of Rs 1.63 lakh.
Earlier this month, the Thane Food and Drug Administration suspended the drug license for the store in Khopat, Thane, for 15 days due to multiple violations of regulatory conditions.
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During January, the company was served with directives from both the assistant director and the drug sales licensing authority of the Drug Control Administration situated in Mahabubnagar TS. One order entailed the suspension of the license for six days for the store located at Shankarayapally Jadcherla, while another mandated a suspension of the license for seven days for a store situated at Hayath Nagar.
The company experienced a 2.4 percent increase in net profit, reaching Rs 13.73 crore in the quarter ending December 2023.
On July 31, 2023, the share reached its highest point in the past 52 weeks at Rs 977.45, while hitting its lowest at Rs 597.95 on February 14, 2024. As of now, the stock is positioned 27.35 percent lower than its 52-week high and stands notably stronger, boasting an 18.76 percent increase over its 52-week low.
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