India's Max Healthcare rises most in over 2 months on positive growth view

Max Healthcare Institute

10/04/2023 07:15

** Shares of Max Healthcare Institute Ltd  MAXE.NS  rise as
much as 4.9% to 451.5 rupees, biggest pct. gain since Feb. 1 
    ** Analysts from Motilal Oswal initiate coverage on
healthcare services firm with "buy" rating with PT of 530 rupees
    ** "Expect MAXE to deliver 16%/17% revenue/EBITDA CAGR over
FY23-25" - Motilal Oswal
    ** Analysts expect growth due to reducing share of
institutional patients, higher international patients flow
driven by brand recall, and ongoing cost management measures
    ** "Demand factors for health/diagnostics industry in India
favourable aided by rising income, healthcare needs and higher
health insurance penetration" - brokerage
    ** Stock trading above its 50-, 100-, and 200-day moving
averages
    ** Trading volume at ~1.4 mln shares vs 30-day avg of ~1.9
mln shares as of 11:25 a.m. IST 
    ** All nine analysts covering  stock have "buy" rating;
median PT is 515 rupees - Refinitiv data
    ** Up to last close, stock down 2.1% so far this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))