KIMS rallies 6%, hits 52-week high after Q2 results

Shares of Krishna Institute of Medical Sciences (KIMS) rallied 5.7% to hit a fresh 52-week high in Tuesday's trade after it reported a 19% year-on-year (YoY) jump in consolidated net profit to Rs 97.11 crore in the quarter ended September 2022 from Rs 81.72 crore in the same quarter previous year.

Its revenue from operations rose to Rs 564 crore, up 37% YoY, against Rs 412 crore in the same quarter year ago.

Following this development, the scrip hit a 52-week high of Rs 1,669.10 on BSE. The stock has risen 30% in the last three months and 37% in the last one year.


In September, Kotak Institutional Equities initiated coverage on KIMS with a buy rating and a target price of Rs 1,590. “Armed with a solid execution track record, a calibrated expansion approach, and a healthy balance sheet, KIMS is well positioned to build on its strong hospital network in AP/Telangana with entries in neighbouring states,” the brokerage said.

Out of five analyst coverage on the stock, four have a strong buy rating and one has a hold call.

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