Yatharth Hospitals Shares Plunge Over 10% Amid Takeover Order Shock

Yatharth Hospitals faced a sharp decline of over 10 percent in early trade on November 29, triggered by an unexpected order from the Commissionerate of Sagar Sambhag, Madhya Pradesh. The order mandated the takeover of the premises of Ramraja Hospital, leaving Yatharth Hospitals in a state of surprise.

In response to the development, Yatharth Hospitals promptly communicated in a regulatory filing that the company had not received any prior notice or communication regarding this order. The hospital operator expressed its belief that the order lacks a basis in true facts. Consequently, Yatharth Hospitals has resolved to appeal the order at the Madhya Pradesh High Court to seek redress.

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As of 11:47 am, the shares were trading 10.42% lower at ₹387.20, reflecting the market’s immediate reaction to the unforeseen challenge faced by the hospital operator.