Buy Apollo Hospitals Enterprise, target price Rs 5160 : Prabhudas Lilladher

Prabhudas Lilladher has buy call on Apollo Hospitals Enterprise with a target price of Rs 5160. The current market price of Apollo Hospitals Enterprise is Rs 4769.95 Prabhudas Lilladher recommended to keep stop loss at Rs 4500.

Apollo Hospitals Enterprise, incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 68530.64 Crore) operating in Hospitals & Allied Services sector.

Apollo Hospitals Enterprise key Products/Revenue Segments include HealthCare Services and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4273.64 Crore, up 12.12 % from last quarter Total Income of Rs 3811.66 Crore and up 14.80 % from last year same quarter Total Income of Rs 3722.70 Crore. Company has reported net profit after tax of Rs 226.00 Crore in latest quarter.

The company’s top management includes Dr.Prathap C Reddy, Dr.Murali Doraiswamy, Mrs.V Kavitha Dutt, Dr.Som Mittal, Mr.Vinayak Chatterjee, Mr.M B N Rao, Mrs.Sangita Reddy, Mrs.Suneeta Reddy, Mrs.Shobana Kamineni, Mrs.Preetha Reddy, Mrs.Rama Bijapurkar. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 14 Crore shares outstanding.

Investment Rationale
The stock has overall indicated a rising channel pattern on the daily chart with strong trend maintained and currently with support taken near the significant 50EMA level of 4555 has shown a trend reversal with bullish candle pattern. The RSI indicator also has confirmed the buy signal with a trend reversal and we suggest to buy this stock for an upside target of 5160 keeping the stop loss of 4500.

Promoter/FII Holdings
Promoters held 29.33 per cent stake in the company as of 30-Sep-2022, while FIIs owned 48.48 per cent, DIIs 15.22 per cent.