Investec initiates India's Krishna Institute of Medical Sciences with "buy"; shares rise
BUZZ-Investec initiates India's Krishna Institute of Medical Sciences with "buy"; shares rise ** Investec initiates coverage of Krishna Institute of Medical Sciences KRII.NS with "Buy" rating and PT of 1,000 rupees
** Hospital operator's shares up 2.1% at 769.4 rupees
** Brokerage says co is entering a strong growth phase as focus shifts from capacity creation to monetising its expanded bed base across Indian states of Maharashtra, Karnataka and Kerala
** Notes co has consistently demonstrated ability to turn around acquired assets through a combination of Average Revenue Per Occupied Bed uplift, occupancy ramp-up and tighter cost control
** Expects EBITDAM to expand to ~25% by FY29E
** Stock rated "Buy" on average by 14 analysts; median PT at 857.5 rupees --L SEG-compiled data
** YTD, stock up 26.1%
(Reporting by Mridula Kumar in Bengaluru)
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