Krsnaa Diagnostics stock slumps 12%

New Delhi: Krsnaa Diagnostics stock slumped more than 12 per cent on Thursday after National Health Mission, Rajasthan cancelled their contract for providing laboratory services in the state. It was trading at Rs 468, down 12 per cent in Thursday morning trade. In an exchange filing, the company said this is in regard to the intimation given by the company dated May 12, 2023 with regards to acceptance of letter of award issued by National Health Mission, Rajasthan, the authority for providing Laboratory Services under Free Diagnostics Initiative on HUB and SPOKE Model under NHM in the entire state of Rajasthan to the company in consortium with the Telecommunications consultants India Ltd (TCIL) (100% GoI Undertaking) as lead bidder. “In light of this situation, we wish to inform you that the Company, in collaboration with TCIL, has taken legal recourse. We assure you that our legal counsels are actively pursuing this matter with utmost dedication and diligence,” it added.