After a bruising bidding war four years ago, Fortis has moved to pare its debt and expand modestly
Apollo Hospitals Enterprise, and Narayana Hrudayalaya advanced 3 per cent each in the intra-day trade
Shares of Rainbow Children's Medicare hit a new high of Rs 884 on Thursday; rallied 25 per cent in five days after the company delivered robust operational and financial performance for Q2FY23.
Analysts believe that Narayana Hrudayalaya's revenues will increase by around 8 per cent QoQ to Rs 1,117 crore amid continued traction for elective surgeries.
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Several hospital players are on an expansion spree, as things are getting better for them after the Covid lull. Will the aggressive expansion cycle help the sector achieve sustainable growth ahead?
Experts note that the transition of the sector to the asset-light model has significantly enabled it to use fewer funds for setting up hospitals, thus bringing significantly higher returns on equity
Analysts positive on the healthcare major with target prices ranging between Rs 5,000 - Rs 5,250
In the past one week, Apollo Hospitals Enterprises, Fortis Healthcare and Max Healthcare have surged between 12 per cent and 15 per cent as compared to a 2 per cent rise in the S&P BSE Sensex
Thus far in the financial year 2021-22 (FY22), the S&P BSE Healthcare index has rallied 24 per cent, as against 9 per cent gain in the S&P BSE Sensex
Institutional investors purchased an additional 1.24 million equity shares or 1.55 per cent stake of the company via open market post its listing
Apollo Hospitals said it will use the funds raised to acquire a 50 per cent stake in a joint venture, seek inorganic growth opportunities, as well as, look to pare down debt in its balance sheet
After a weak performance over the last couple of years, hospitals are posting robust growth due to focus on utilisation and margins
Despite revenues for the top players growing by double digit, led by new hospital additions, realisations have been in low, single digits