India's Krishna Institute of Medical Sciences jumps on hospital buy

Krishna Institute of Medical Sciences

10/07/2024 07:44

** Shares of Krishna Institute of Medical Sciences  KRII.NS 
rise as much as 4.4% to 2,193.90 rupees, highest since early
March
    ** The healthcare services provider acquires a 200-bed
multi-specialty hospital, operated by Chalasani Hospitals
    ** "Besides raising occupancy from 50-55% by offering more
procedures, better packages and stronger doctor connect, QNRI
has low-hanging fruits like insourcing pathology and improving
pharmacy offerings that would boost margins," says Ambit Capital
    ** KRII snapped a three-month losing run with a 14% jump in
June, helped in part by a stock split
    ** Stock last up 2.4% on the day, taking YTD gains to ~9%
    ** Avg rating of 8 analysts is equivalent of "strong buy";
median PT at 2,217.50 rupees -LSEG data

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))