Metropolis tanks 27% in 1-mth on promoter stake sale buzz, latter clarifies

The promoters of Metropolis Healthcare on Monday after market hours clarified that they have no intention to exit the business.

Shares of Metropolis Healthcare (MHL) hit a fresh 52-week low of Rs 1,475, down nearly 2 per cent on the BSE in Tuesday’s intra-day trade. The stock has shed 7 per cent in the last two days on reports that the promoters of the healthcare services provider were planning to sell partial stake in the company.

In the past one month, the stock price of MHL has declined 27 per cent as compared to a 0.32 per cent decline in the S&P BSE Sensex. In the past six months, the stock has more-than-halved or down 55 per cent as