The share price of MedPlus Health Services declined in early trade on January 8 after its subsidiary received drug licence suspension orders from the Drug Control Administration.
At 9:27am, Medplus Health Services was quoting Rs 750.10, down Rs 0.50, or 0.07 percent, on the BSE.
The company has received order from the assistant director and drug sales licensing authority of the Drug Control Administration, Mahabubnagar TS, for suspension of licence for six days for store at Shankarayapally Jadcherla, and another order from the assistant director of the Drugs Control Administration, Ranga Reddy TS, for suspension of licence for seven days for store located at Hayath Nagar.
The subsidiary received both orders on January 4.
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The company subsidiary also received drug licence suspension orders from the assistant director of Drugs Control Administration, Ranga Reddy for suspension of drug licence for five days for sales premises at Padmavathi Colony Hasthinapuram and suspension of drug licence for three days for sales premises at Mangalapally village Bongloor.
The authority issued licence suspension orders for violation of various conditions of licences issued.
In December, one of the subsidiary companies received orders from the assistant director and drug sales licensing authority and drug control authorities from various locations.
The share touched a 52-week high of Rs 977.45 and a 52-week low of Rs 599.10 on 31 July, 2023 and 11 January, 2023. Currently, the stock is trading 23.26 percent below its 52-week high and 25.2 percent above its 52-week low.
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