Krsnaa Diagnostics Soars 3% Following Approval of Rajasthan Tender
By Shishta Dutta | Published at: Jul 8, 2025 12:34 PM IST
Pune, July 8, 2025 – Shares of Krsnaa Diagnostics Ltd (NSE: KRSNAA, BSE: 543328) rose more than 3% in the first hour of trading on July 8, 2025. This was because the company got a new Letter of Acceptance (LoA) from the Rajasthan government for a major diagnostic services contract under the National Health Mission’s Free Diagnostics Initiative.
The stock was trading at ₹764.00 at 10:23 a.m. IST, which was ₹23.45 or 3.17% higher than its previous close of ₹740.55. The stock had an intraday high of ₹789.00 and a low of ₹760.00, with a volume-weighted average price (VWAP) of ₹772.05. The current market price is ₹756.00 (11:00 am IST), which shows that the stock is consolidating gains and is a little volatile during the day.
Regulatory Approval Triggers Rally
The dramatic rise came after the Rajasthan High Court ruled in Krsnaa’s favour, allowing the project to go ahead with TCIL as a partner. This news is likely to greatly increase the company’s revenue visibility in the public healthcare sector, with a possible earnings contribution of more than ₹70 crore.
The company has recently received another LoA in Assam, which shows that state-level diagnostics are becoming more popular. Krsnaa has great operating margins (around 30%), a low P/E ratio (about 31.7), and very little debt. This makes it a good buy for investors searching for value in the diagnostics market, as it is cheaper than competitors like Dr. Lal PathLabs and Metropolis Healthcare.
“We are pleased to inform you that the Government of Rajasthan has issued a new LoA… The consortium will be entering into an agreement with the Authority,” the company stated in its regulatory filing.
Price & Market Snapshot (as of 10:23 a.m. IST)
| Metric | Value |
|---|---|
| Current Price | ₹756.00 |
| Previous Close | ₹740.55 |
| Intraday High | ₹789.00 |
| Intraday Low | ₹760.00 |
| VWAP | ₹772.05 |
| 52-Week High | ₹1,044.00 (Nov 26, 2024) |
| 52-Week Low | ₹625.75 (May 30, 2025) |
| Market Cap | ₹2,478.31 Cr |
| Free Float Mkt Cap | ₹1,376.61 Cr |
| Adjusted P/E | 30.95 |
Trade Information
| Metric | Value |
|---|---|
| Traded Volume (Shares) | 4.19 lakh |
| Traded Value | ₹32.35 crore |
| Delivery to Trade Ratio | 50.57% |
| Annualised Volatility | 45.47% |
Company Overview
Since August 2021, Krsnaa Diagnostics Ltd has been listed on the NSE and BSE. It is a top healthcare service provider that focuses on pathology and diagnostic imaging services. The company works with a number of government agencies to provide low-cost diagnostics all over India. One example is the Rajasthan NHM program, which is a public-private partnership (PPP) approach.
The most recent court-approved LoA and the impending agreement are expected to help Krsnaa grow its business across the state, which might lead to more money and bigger operations in the public healthcare diagnostics sector.
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