India's MedPlus Health falls after deferring fund raise plans

MedPlus Health Services

21/02/2024 07:14

** Shares of MedPlus Health Services  MEDP.NS  fall ~2% to
699 rupees 
    ** Pharmacy retailer said its board has decided not to
proceed with a fund raise, for which it had received
shareholders' approval on Nov. 30
    ** Fund raise deferred as board decided to stall expansion
plans of its diagnostics division beyond Hyderabad until pilot
project turns profitable 
    ** Avg rating of five analysts on MEDP is "strong buy;"
median PT is 980 rupees - LSEG data
    ** Stock down 6.8% YTD after rising 22% in 2023
    

 (Reporting by Kashish Tandon)
 ((kashish.tandon@thomsonreuters.com))