India's Fortis Healthcare jumps to record high

Max Healthcare Institute

06/02/2024 08:20

** Shares of Fortis Healthcare Ltd  FOHE.NS  hit record high
of 469.7 rupees 
    ** Private hospital chain's CEO told the Hindu Businessline
on Sunday co plans to add 600 beds by end of FY24, taking
overall capacity to 5,100 beds
    ** FOHE is one of India's largest private hospital chains by
capacity after leader Apollo Hospitals  APLH.NS  and Manipal
Hospitals
    ** More than 4 mln shares traded, 3.2x 30-day avg volume
    ** FOHE's avg rating of "Buy" in line with other major
listed hospital stocks - LSEG data
    ** Co's 12-mth forward P/E of 42.8 trails APLH's 51.2 and
Max Healthcare's  MAXE.NS  61.8
    ** Stock last up 6%, has gained 10% YTD, outperforming APLH
but trailing MAXE's 18% rise


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))