Buy Fortis Healthcare, target price Rs 298: IIFL

IIFL has buy call on Fortis Healthcare with a target price of Rs 298. The current market price of Fortis Healthcare Ltd. is Rs 280.55. Time period given by analyst is Intra Day when Fortis Healthcare Ltd. price can reach defined target.

Fortis Healthcare Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 21165.25 Crore) operating in Hospitals & Allied Services sector.

Fortis Healthcare Ltd. key Products/Revenue Segments include HealthCare Services, Lease Rentals, Other Operating Revenue, Pharmaceuticals for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1473.34 Crore, up .19 % from last quarter Total Income of Rs 1470.56 Crore and up 24.10 % from last year same quarter Total Income of Rs 1187.20 Crore. Company reported net profit after tax of Rs 136.63 Crore in latest quarter.

Investment Rationale
The stock has given an inverse head and shoulder breakout

Promoter/FII Holdings
Promoters held 31.17 per cent stake in the company as of 31-Dec-2021, while FIIs owned 30.08 per cent, DIIs 15.67 per cent.