This healthcare stock is up 250% in 4 years; Prabhudas Lilladher sees 35% upside
13 Feb 2023
Zinkpot
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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
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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