Buy Fortis Healthcare, target price Rs 313: ICICI Securities

ICICI Securities has buy call on Fortis Healthcare with a target price of Rs 313. The current market price of Fortis Healthcare Ltd. is Rs 279.8.

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 21138.83 Crore) operating in Hospitals & Allied Services sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1418.15 Crore, up 12.66 % from last quarter Total Income of Rs 1258.78 Crore and up 132.33 % from last year same quarter Total Income of Rs 610.40 Crore. Company reported net profit after tax of Rs 422.11 Crore in latest quarter.

Investment Rationale
Faster retracement of the last falling segment (260-225) and a breakout above last seven weeks range.

Promoter/FII Holdings
Promoters held 31.2 per cent stake in the company as of June 30, 2020, while FIIs held 41 per cent, DIIs 9.8 per cent and public and others 18.1 per cent.