MedPlus Health Services Limited witnessed a decline of over 2% in its share price after its subsidiary, Optival Health Solutions Private Limited, faced temporary suspensions of drug licenses for several stores across Karnataka and Maharashtra.
MedPlus Health shares opened at ₹840.00, reaching a high of ₹840.00 and a low of ₹825.75 today. The stock has traded within a 52-week range, with a high of ₹875.65 and a low of ₹598.60.
Key Details:
- Karnataka
- Location: Bidadi Bus Stand, Bangalore.
- Action: One-day suspension under Rule 65 of the Drugs and Cosmetics Act, 1940.
- Revenue Impact: Estimated loss of ₹1.37 lakhs.
- Maharashtra
- Locations:
- Newasa Phata, Kopargaon (Ahmednagar): Five-day suspension each.
- Revenue Impact: ₹1.39 lakhs and ₹2.04 lakhs, respectively.
- Rahuri, Sangamner, and Adarsh Colony (Ahmednagar): Three-day suspension each.
- Revenue Impact: ₹0.42 lakhs, ₹1.20 lakhs, and ₹0.50 lakhs, respectively.
- Newasa Phata, Kopargaon (Ahmednagar): Five-day suspension each.
- Locations:
The suspensions were imposed by the respective state drug authorities due to alleged contraventions of the Drugs and Cosmetics Act and Rules.
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