Shares of Yatharth Hospital & Trauma Care Services Ltd rose 1.5% to touch a day’s high of Rs 764 on 13th November, after the company said it had received orders from the Deputy Commissioner of Income Tax, Delhi, for the release of all its provisionally attached properties.

The Income Tax authorities have also ordered the unfreezing of all fixed deposits of Yatharth Hospitals that were earlier attached. This allows the company to access and use them again.

Yatharth Hospitals said it has fully cooperated with the authorities and provided all required information. Furthermore, it will update the relevant departments once the tax investigation concludes.

The case dates back to October 2023, when Income Tax raids were first conducted. At the time, several brokerages, including Ambit, had withdrawn coverage of the stock, citing uncertainty due to the ongoing investigation.

Ambit noted that the authorities’ move to attach various properties and equity shares in three subsidiaries raised concerns. It also made it difficult to assess the potential outcome or impact on the company.

At 2:13 PM, shares of Yatharth Hospitals were trading 0.95% higher at Rs 747.05 on NSE.

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