India's Rainbow Children's Medicare up 5% as HSBC starts coverage with "buy"

Rainbow Childrens Medicare

13/04/2023 07:15

** Shares of Rainbow's Children Medicare  RAIB.NS  rise as
much as 4.77% to 764.45 rupees, highest level since Feb. 20
    ** HSBC initiates coverage of the healthcare services
provider's stock with "buy" - its highest rating
    ** Target price set at 1,025 rupees, a 40% implied upside
from the last close of 729.65 rupees
    ** Despite emergence of other mother and child care peers,
RAIB's position as a leading paediatric care provider is largely
unchallenged, says HSBC
    ** Sees strong growth opportunities and earnings growth
visibility due to RAIB's well-planned capex, demand, healthy
average revenue per operating bed
    ** Expects RAIB's earnings to double over FY2022-25
    ** About 84,476 shares change hands as of 11:31 p.m. IST,
0.8x the 30-day avg of 109,345 shares - Refinitiv data




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