Buy Fortis Healthcare, target price Rs 646: HDFC Securities

HDFC Securities has buy call on Fortis Healthcare with a target price of Rs 646. The current market price of Fortis Healthcare Ltd. is Rs 540.7.
Fortis Healthcare Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 41016.88 Crore) operating in Hospitals & Allied Services sector.

Fortis Healthcare Ltd. key Products/Revenue Segments include HealthCare Services, Lease Rentals, Other Operating Revenue and Pharmaceuticals for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 1871.91 Crore, up 4.25 % from last quarter Total Income of Rs 1795.68 Crore and up 12.39 % from last year same quarter Total Income of Rs 1665.55 Crore. Company reported net profit after tax of Rs 173.39 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.17 per cent stake in the company as of 30-Jun-2024, while FIIs owned 23.31 per cent, DIIs 31.0 per cent.