India's hospital sector shows steady growth, Fortis top pick, says Jefferies

Max Healthcare Institute

21/08/2026 07:37

** Brokerage Jefferies says all Indian hospital operators delivered steady performance, posting double-digit revenue growth in June quarter
** Fortis Healthcare FOHE.NS its top pick, followed by Apollo APLH.NS, Dr. Agarwal's Health Care DRAA.NS, Medanta GLOH.NS and  Max Healthcare MAXE.NS 
** Fortis attractive due to its ongoing hospital expansion and strong near-term growth prospects - Jefferies, rated 4 out of 5 stars for sector, per LSEG
** Says planned bed-capacity expansion remains largely on track across hospitals, though Max could face some delays
** Expects sustained growth in Apollo's hospital business and improving profitability at HealthCo
** Raises EBITDA estimates for Dr. Agarwal's Health Care DRAA.NS, Medanta GLOH.NS and Apollo post results
** YTD, MAXE down 5.1%, DRAA falls 2.3%, GLOH up 18.5%, APLH up 23.3%, FOHE rises 2.5%

(Reporting by Abhinav Parmar in Bengaluru)
((Abhinav.Parmar@thomsonreuters.com;))