Details
Jhunjhunwala Portfolio Stock: Pharma share Fortis Healthcare, included in Jhunjhunwala portfolio, saw a good rally after Q2 results. The stock made 52-week high in three consecutive trading sessions after the results. Due to profit booking at upper levels, on Friday (November 17) the stock is trading about 4.5 percent below the record high. Talking about the results for September 2023 quarter, the net profit of the company has decreased by 16 percent, while the revenue has increased by 10 percent. After the results, brokerage house Nuvama Wealth has advised to buy the stock of Fortis Healthcare. Fortis Healthcare is also in the portfolio of Rekha Jhunjhunwala, wife of veteran market investor Rakesh Jhunjhunwala.
Fortis Healthcare: Shares will reach Rs 420 in 12 months
Brokerage house Nuvama has advised to buy the stock of Fortis Healthcare. Looking at the next 12 months, a target of Rs 420 has been kept on the stock. On November 16, 2023, the share price closed at Rs. 362. In this way, investors can get good returns of about 16 percent in the shares beyond the current price. So far this year, the stock has given around 27 percent return. The stock's return in the last 5 years is around 140 percent.
The brokerage says, the company is focused on hospital business and has an aggressive expansion plan. The company will add a capacity of 2200 brownfield beds in the next 3 years. The management's focus is on increasing occupancy and controlling costs. The performance of Agillus is expected to improve with network expansion. The brokerage has kept FY24E/25E EBITDA unchanged. The company has maintained a buy advisory on the stock. Also the target has been increased from 385 to 420.
Shares are in Jhunjhunwala portfolio
Fortis Healthcare is included in the portfolio of veteran investor Rekha Jhunjhunwala. According to the shareholding pattern of the September 2023 quarter, his holding in Fortis Healthcare is 4.7 percent. Whose holding value is Rs 1,273.2 crore. Rekha Jhunjhunwala is the wife of Rakesh Jhunjhunwala, who is called Warren Buffett of India. Rakesh Jhunjhunwala died in August 2022, after which Rekha Jhunjhunwala is handling his portfolio.
Fortis Healthcare: How were the Q2 results?
Fortis Healthcare's net profit in the July-September 2023 quarter declined by 15.7 percent (YoY) to Rs 183.9 crore. Net profit in the same quarter last year was Rs 218.2 crore. In the second quarter, the company's revenue increased by 10 percent to Rs 1770 crore, which was Rs 1607 crore in the same quarter earlier. The company's operating profit (EBITDA) increased from Rs 303.2 crore to Rs 329.9 crore.
Don't Use Spam Words and Any Spam Link.