Bullish on Fortis Healthcare: Gajendra Nagpal, Unicon Financial Solutions

Gajendra Nagpal, CEO, Unicon Financial Solutions, in a chat with ET Now talks about Fortis Healthcare.

Fortis Healthcare completely plummeted down in today’s session. Do you still maintain a bullish stance?

Definitely, the news flows around the stock has been something that is obviously keeping the momentum high in the stock. But let us for a second move from whatever news flow has been happening around it. Fundamentally also, I think the stock has been doing well. The results were reasonably good in a way, it was better than Unicorn’s expectations at least and then they have been making considerable enrols into NCR location where they have hospitals now and there has been renal sciences, and neuro and ortho.

All these various departments that this hospital is offering are seeing a considerable increase in footfall and the patients coming to them. Also, the company was into investment phase for a considerably long period of time. Though the investment phase still continues, some of their initial investments have started to pay off and they have been paying off fairly well.

We all have been talking about the prospects of healthcare industry going forward with more and more people getting an insurance cover. So to that extent, I do believe the stock has a good potential to move up and fundamentally from a portfolio standpoint I think it should be in the portfolio of any long term investors. So to that extent it makes me reasonably bullish on the counter from the medium to long term standpoint.