India's Max Healthcare rises nearly 2% on positive growth view

Max Healthcare Institute

08/03/2023 08:18

** Shares of Max Healthcare  MAXE.NS  rises nearly 2% to 439
rupees, highest in over two weeks since Feb. 20
    ** Rise comes after global brokerage firm Jefferies
reiterates "buy" and maintains target price at 530 rupees,
citing best-in-class execution abilities, bed addition and
possibilities for further mergers and acquisitions
    ** MAXE on track to add 1,500 new beds by FY2025, says
Jefferies; adds that the new bed addition will not be a drag on
profitability as it will be likely through brownfield expansion
    ** Increase in contribution from non-institutional patients
should boost profitability of MAXE, says Jefferies
    ** About 911,960 shares change hands as of 1:38 p.m. IST,
0.7x the 30-day avg of 1.35 mln shares - Refinitiv data
    ** All eight analysts tracking MAXE maintain "buy"; median
TP is 507.50 rupees - Refinitiv data




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))