Suraksha Diagnostic share price falls nearly 25 pc in a year

Mumbai, April 23 (IANS) Suraksha Diagnostic Limited's stock has seen a sharp decline over the past year as it has fallen by Rs 103 or 24.69 per cent in the last 12 months, as per the latest data available on the National Stock Exchange (NSE).

On a year-to-date (YTD) basis, it has dropped by Rs 65.85 or 17.32 per cent on NSE. The stock has also lost the same 24.69 per cent in the last six months alone.

Suraksha Diagnostic’s shares closed almost flat on Wednesday on the NSE, ending at Rs 314.25, up Rs 1.85 or 0.59 per cent.

Multiple reports attributed several factors such as subdued financial performance, negative industry sentiment, macroeconomic pressures, or changes in management for the decline in share price.

“Market volatility and broader economic challenges have also likely affected investor confidence in the company,” reports noted.

Suraksha Diagnostic had hit a 52-week high of Rs 449 on December 6, 2024, and a 52-week low of Rs 231 on March 4.

According to NSE data, the current market capitalisation of the company stands at Rs 1,636.64 crore.

Meanwhile, Suraksha Diagnostic shares had a weak debut on December 6, 2024, despite strong equity market conditions at the time.

The stock opened lower at Rs 438 on the NSE, down from the issue price of Rs 441 on the same day.

Although it briefly touched an intra-day high of Rs 449 in early trades, it quickly lost momentum and continued to decline throughout the session.

It touched a low of Rs 414.95 in late trade before ending the day at Rs 417.25, down 5.4 per cent, with a trading volume of 67.47 lakh equity shares.

On the Bombay Stock Exchange (BSE), the shares closed at Rs 417.95 on December 6, 2024 -- a 5.23 per cent drop, with a volume of 5.69 lakh shares.

The company had launched its Rs 846-crore initial public offering (IPO) late last year, which was open for subscription from November 29 to December 3.

--IANS

pk/na