Mega scheme keeps hospital stocks in fine nick

Hospital-centric shares rallied up to 5 per cent on Thursday after the finance minister unwrapped a mega healthcare scheme.

The minister, Arun Jaitley, announced that the government will roll out a flagship National Health Protection Scheme to cover over 10 crore poor and vulnerable families -- approximately 50 crore beneficiaries -- providing coverage up to Rs 5 lakh per family per year for secondary and tertiary care hospitalisation.

“This will be the world’s largest government funded healthcare programme. Adequate funds will be provided for smooth implementation of this programme,” Jaitley said.


Shares of Apollo Hospital climbed 4.67 per cent to Rs 1,215.80 while the BSE Sensex closed down 58.36 points, or 0.16 per cent, at 35,906 on Thursday.

Shalby and Narayana Hrudalaya added 0.06 per cent and 3.53 per cent at Rs 236.65 and Rs 296.50, respectively.

Preetha Reddy, Vice-Chairman, Apollo Hospitals, said, “It is clear that India's macroeconomic situation has improved. The implementation of GST and more taxpayers entering the economy have helped Jaitley target a lower fiscal deficit of 3.3 per cent for next year. The rollout of a national Healthcare policy covering 50 crore citizens is nothing short of path-breaking. If implemented correctly, it can transform India’s health map.”