Buy Apollo Hospitals Enterprise, target price Rs 2480: Kotak Securities

Kotak Securities has buy call on Apollo Hospitals Enterprise Ltd. with a target price of Rs 2480. The current market price of Apollo Hospitals Enterprise Ltd. is Rs 2410.05.

Apollo Hospitals Enterprise Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 33668.29 Crore) operating in Hospitals & Allied Services sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2760.72 Crore, up 27.13 % from last quarter Sales of Rs 2171.50 Crore and down -2.82 % from last year same quarter Sales of Rs 2840.74 Crore.

Investment Rationale
Rounding bottom chart formation near important retracement zones on daily charts.

Promoter/FII Holdings
Promoters held 30.81 per cent stake in the company as of March 31, 2020, while FIIs held 46.92 per cent, DIIs 15.02 per cent and public & others 7.25 per cent.