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This healthcare stock is up 250% in 4 years; Prabhudas Lilladher sees 35% upside

13 Feb 2023 Zinkpot 145

Mint -  Narayana Hrudayalaya shares are one of the multibagger stocks that Dalal Street has delivered in post-COVID stock market rebound. Even though this multibagger healthcare stock has remained sideways to negative for last one year, it has given near 250% return to its long term investors in last 4 years. Read more

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  •  Narayana Health, formerly known as Narayana Hrudayalaya,  Is an Indian chain of multi- speciality hospitals, heart centres and primary care facilities with its headquarters in Bengaluru, India. It was founded by Dr Devi Shetty in the year 2000.
  • It has its presence across major Indian cities Bangalore, Delhi, Gurugram. Kolkata, Ahmedabad, Raipur, Jaipur, Mumbai, Mysore, etc. with an international subsidiary in the Cayman Islands.
  • Narayana Hrudayalaya was listed on the BSE and NSE on 6th January 2016. Upon debut, the company was valued at over US $1 billion.
  • Even though this multibagger healthcare stock has remained sideways to negative for last one year, it has given near 250% return to its long term investors in last 4 years.
  • In fact, the stock witnessed high buying interest by bulls after ushering in 2019. In this period, this healthcare stock has risen from around ₹200 to ₹715 apiece levels.
  • However, despite sideways to negative trend for last one year, Prabhudas Lilladher has given 'buy' tag to this healthcare stock. The brokerage believes that this stock may go up to ₹965 apiece levels in long term. Its share price today on NSE is around ₹715 per share, which means the brokerage is expecting more than 250% return from this healthcare stock.
  • The brokerage firm, further with regards to Narayana Hrudayalaya shares said, "We expect growth momentum to sustain. The company plans to continue with its aggressive Capex plan for next 2-3 years, guided by Capex of Rs.10 billion annually in FY23E and FY24E. More importantly Capex spend would be towards its core and high performing regions such as Bangalore, Kolkata and Cayman.
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