Max Healthcare Institute shares witnessed significant block trades on Tuesday, with transactions worth Rs 321 crore recorded through multiple deals as of 12 noon. Despite the heightened activity, the stock was down 1 percent at Rs 1,010 on the NSE by noon, extending its five-day decline to 11.7 percent.
Max Healthcare stock's trading volume surged notably, with total volume till noon exceeding 5.5 times the stock's 20-day average. This follows a day of high delivery on Monday, where nearly 75 percent of the total traded quantity was marked for delivery, surpassing the one-month average of 64 percent.
The stock, however, remains up 42 percent from its 52-week low of Rs 706 hit on March 1, 2024. It is down 18 percent from its 52-week high of Rs 1,228 reached on January 8, 2025.
The recent pressure on the stock comes after Max Healthcare reported a 6.5 percent year-on-year decline in its profit after tax to Rs 316 crore for the December quarter. The drop was attributed to a one-time payment to authorities related to changes in shareholding of its acquired entity, Jaypee Healthcare Ltd.
In the corresponding quarter last fiscal, the company posted a PAT of Rs 338 crore. However, the network's gross revenue rose to Rs 2,381 crore in the quarter under review, compared to Rs 1,779 crore a year ago.
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