Yatharth Hospital falls 8% after shares change hands in block deal

Shares of Yatharth Hospital and Trauma Care Services Ltd. fell as much as 8% on Friday, November 28, after the company saw 0.55% of its outstanding equity change hands in a block deal.

As many as 4.4 lakh shares or 0.5% equity of Yatharth Hospital changed hands at a price of ₹719.6 per share, taking the total transaction value to ₹32 crore.

On November 13, the company received orders from the Deputy Commissioner of Income Tax, Delhi, where orders were issued for the release of all provisional attached properties of the company.

The Income Tax authorities have also ordered the unfreezing of all fixed deposits of the company that were previously attached by the authorities but now can be used by the company.

"We have actively cooperated with the authorities and provided all the required information," Yatharth Hopitals said, adding that concerned authorities will be informed once the tax department concludes its investigation.

The story goes back to October 2023, when the Income Tax raids were initially conducted by the authorities. Brokerages such as Ambit had dropped its coverage back them citing these ongoig investigations are a cause for concern.

"The recent move by authorities to attach various properties and equity shares in three subsidiaries raises concerns. Given our inability to assess the potential outcome or impact, we are dropping coverage on the stock," Ambit wrote in its note back then.

Shares of Yatharth Hospital and Trauma Care Services Ltd. are trading 8.08% lower at

₹

709.60. The stock has risen 23% so far in 2025.