Some stocks that touched their 52-week lows today

29 Aug 2022 , 12:30 PM

Thyrocare Technologies, Krsnaa Diagnostics, and Metropolis Healthcare all hit their respective 52-week lows on the BSE in today’s intra-day trade on disappointing results, putting pressure on shares of healthcare service providers on Monday.

These stocks have dropped between 10% and 15% over the last three months, while the S&P BSE Sensex has increased by 6%. Additionally, they have lost up to 29% of their value over the last six months, compared to the benchmark index’s rise of 3%. As opposed to the Sensex’s 3% rise over the past year, these equities have fallen between 48% and 51% in value.

Krsnaa Diagnostics, one of the individual stocks, fell 5% to Rs455 during today’s intraday trade. It has plummeted 18% over the last month as a result of the company’s earnings and margins declining sequentially and year over year (YoY) for the quarter ending in June 2022. (Q1FY23).

The firm said that increased expenses for the onboarding personnel to manage and operate the recently established centers had a negative impact on profit margins as compared to the prior quarter. With the maturity of these centers, the margins are anticipated to increase in the next quarters, according to Krsnaa Diagnostics’ post-results statement.

As part of its development goal to establish 90 laboratories and 1,800 network centers by FY24, Metropolis boosted its operations in the fiscal year 2021—2022 by adding 16 labs and 506 network centers. “The business will solidify its position as the market leader in South India as a result of its recent purchase of Hitech Diagnostic Center. We will be able to become the second-largest diagnostics firm in India as well as the leading brand in South and West India thanks to this purchase “According to the company’s annual report.

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