Buy Medplus Health Services, target price Rs 950 : Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Medplus Health Services with a target price of Rs 950. The current market price of Medplus Health Services is Rs 837.55. Sharekhan by BNP Paribas recommended to keep stop loss at Rs 760.

Medplus Health Services, incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 9894.02 Crore) operating in Retail sector.

Medplus Health Services key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1266.68 Crore, up 5.41 % from last quarter Total Income of Rs 1201.68 Crore and up 29.39 % from last year same quarter Total Income of Rs 978.96 Crore. Company has reported net profit after tax of Rs 26.56 Crore in latest quarter.

Investment Rationale
Stock has given breakout from symmetrical triangular pattern with a bullish crossover in its MACD.

Promoter/FII Holdings
Promoters held 40.43 per cent stake in the company as of 31-Mar-2023, while FIIs owned 4.48 per cent, DIIs 28.16 per cent.