BSE Code: | NSE Code: | ISIN: | Sector:

NSE
144.85
Change Change %
-1.15 -0.79%

Updated:23 Oct, 2017, 15:59 PM IST

BSE
145.05
Change Change %
-1.05 -0.72%

Updated:23 Oct, 2017, 15:54 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
07-08-2017 Buy 165.25 230.00
N/A
Open Long (1Y)
07-08-2018

Edelweiss maintains buy on Fortis Healthcare

Fortis Healthcare (Fortis) rebounded with good Q1FY18 numbers post being impacted by demonetisation in previous quarter. Revenue and EBITDA grew by 3% and 38%, respectively. Price control on stents was absorbed and business was back to normal. Management believes that growth trajectory will improve to double digit in H2 and EBITDAC margin will expand to 16% (13.3% in Q1FY18) by year end. Stock has corrected by 25% in the last 1 quarter hit by leverage issue at promoter's end. It is now trading at 13.4x FY19E EBITDAC versus average sector multiple of 18x. We believe Fortis is at the cusp of unlocking significant value by demerging its 56% subsidiary SRL- can unlock around INR53/share. 

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