India's Max Healthcare gains; Ambit upbeat on growth prospects

Max Healthcare Institute

12/06/2024 09:08

** Max Healthcare Institute  MAXE.NS  shares up ~8.6% to
871.2 rupees, highest since mid-April 
    ** Brokerage Ambit says the heathcare services co holds
dominance in brownfield market segment sees MAXE's bed-addition
plans as most aggressive among peers
    ** Adds, higher brownfield expansion plans in core market
regions such as Delhi, Lucknow are key drivers of co's core
profit growth 
    ** Sees MAXE as second-top hospitals pick following Narayana
Hrudayalaya  NARY.NS  
    ** Maintains "Buy" rating on stock; PT of 920 rupees/share
unchanged, at ~15% premium on last close 
    ** Stock on track to log biggest one-day percentage gain
since Sept. 2022
    ** Analysts' avg rating on stock is "Buy", median PT is 885
rupees - LSEG data 
    ** Including session's gains, stock is up ~27% YTD vs ~17%
rise in the Nifty mid-cap index  .NIFMDCP100  
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))