Suraksha Diagnostic's Share Price Declines by Nearly 25% Over the Year
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Synopsis
As of April 23, 2023, Suraksha Diagnostic Limited's stock has plummeted by Rs 103, or 24.69%, over the past year, reflecting a considerable decrease in investor confidence due to various external factors.
Key Takeaways
- Suraksha Diagnostic's share price dropped 24.69% in the last year.
- Year-to-date decline is 17.32%.
- Market capitalization stands at Rs 1,636.64 crore.
- Company faced challenges impacting investor confidence.
- IPO launched late last year for Rs 846 crore.
Mumbai, April 23 (NationPress) The stock of Suraksha Diagnostic Limited has experienced a significant downturn in the past year, decreasing by Rs 103 or 24.69% according to the latest statistics from the National Stock Exchange (NSE).
On a year-to-date (YTD) assessment, it has fallen by Rs 65.85 or 17.32% on the NSE. Additionally, the stock has seen a similar drop of 24.69% over the past six months.
On Wednesday, the shares of Suraksha Diagnostic closed nearly unchanged on the NSE, finishing at Rs 314.25, an increase of Rs 1.85 or 0.59%.
Various reports have linked the decline in share price to several factors, including muted financial results, negative sentiment in the industry, macroeconomic pressures, and management changes.
It was noted that “Market fluctuations and wider economic challenges may have impacted investor faith in the firm,” according to reports.
The stock reached a 52-week high of Rs 449 on December 6, 2024, and a 52-week low of Rs 231 on March 4.
As per NSE data, the company's current market capitalization is Rs 1,636.64 crore.
Additionally, Suraksha Diagnostic had a lackluster debut on December 6, 2024, despite favorable conditions in the equity market at that time.
The stock opened lower at Rs 438 on the NSE, compared to the issue price of Rs 441 on the same day.
Although it briefly reached an intra-day high of Rs 449 in early trades, it swiftly lost momentum and continued to decline throughout the day.
In late trading, it hit a low of Rs 414.95 before closing the day at Rs 417.25, a decrease of 5.4%, with trading volumes of 67.47 lakh equity shares.
On the Bombay Stock Exchange (BSE), shares ended at Rs 417.95 on December 6, 2024, marking a 5.23% reduction, 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 available for subscription from November 29 to December 3.
