India's Apollo Hospitals hits record high after HSBC hikes PT on pharmacy demerger boost
03/07/2025 10:52
** Shares of Apollo Hospitals APLH.NS rise as much as 2.14% to a record high of 7,600.50 rupees ** HSBC reiterates "buy" and hikes PT to 8,435 rupees, a 12.5% upside from last close ** HSBC says APLH's plans to demerge its pharmacy business into a new company and separately list the entity will help unlock the value of the pharmacy business ** Move to also simplify the corporate structure and lend scope for execution-led valuation upside, according to HSBC ** Average rating of 25 analysts tracking APLH is "buy"; median PT is 8288 rupees, according to data compiled by LSEG ** APLH shares up 2% YTD vs a 7.5% rise in the benchmark Nifty 50 index .NSEI, exchange data shows (Reporting by Bharath Rajeswaran in Bengaluru) ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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