By Malvika Gurung
Investing.com -- The Indian healthcare major Apollo Hospitals (NS: APLH ) witnessed a rally of 12.5% in its share prices, as it ended the session on Wednesday at Rs 5,733.95/share. The scrip touched its 52-week high on November 17 at Rs 5,844.4.
The healthcare stock has rallied after releasing a strong earnings report for the September-ending quarter on November 16, beating the Street’s estimates. Its average revenue per occupied bed increased for the quarter, along with the PAT and EBITDA figures rising 350% YoY to Rs 267 crore, and 105% YoY to Rs 615 crore, respectively.
The trading indicator MACD has reflected a bias for buying the stock, indicating a positive growth outlook for AHEL. Additionally, brokerage firm ICICI Securities has put up a Buy call on the stock with a target price of Rs 5,930/share, stating that the company’s ongoing work in creating an ‘omnichannel healthcare platform’ could attract new-age investors for scaling up its platform.
Furthermore, due to easing travel restrictions and increasing international patients, the healthcare business is moving towards normalcy. The contribution to AHEL’s business from overseas in H2 FY22 has increased from 1% in Q2 to 4-5% and is estimated to further rise to 10% by FY24.
Analysts are highly bullish on the healthcare company’s stock, with almost 16 analysts from different brokerages initiating a Buy/Add/Outperform/Overweight rating on the scrip, including Edelweiss and HDFC (NS: HDFC ) Securities, stated a Bloomberg report.
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company prospectus seems to be good n sustainable. but present price/PE is too high.Like 1