Apollo Hospitals hits 34-month low

The stock slipped 7% to Rs 1,069, its lowest level since October 23, 2014 on BSE in intra-day trade.

Apollo Hospitals Enterprise has slipped 7% to Rs 1,069, its lowest level since October 23, 2014 on BSE, in an otherwise firm market.

The National Pharmaceutical Pricing Authority (NPPA) on Wednesday fixed the price for primary knee replacement of titanium alloy at Rs 38,740 while the price for revision knee replacement of any material was pegged at Rs 62,770.

"It is noticed that orthopedic knee implants are having unjustified, unreasonable and irrational high trade margins leading to their exorbitant prices, which affects the out-of-pocket expenses of patients and lakhs of patients are not able to pay for arthoplasty