Apollo Hospitals gains after brokerage upgrade

Apollo Hospitals Enterprises rose 1.30% to Rs 886.05 at 14:44 IST on BSE after a foreign brokerage assigned an outperform rating on the stock with a target price of Rs 1,085, citing strong growth visibility and proven execution.

Meanwhile, the BSE Sensex was up 29.83 points, or 0.14%, to 21,769.92.

On BSE, so far 5,148 shares were traded in the counter, compared with an average volume of 15,937 shares in the past one quarter.

The stock hit a high of Rs 892 and a low of Rs 879.95 so far during the day. The stock hit a 52-week high of Rs 1,096.15 on 17 May 2013. The stock hit a 52-week low of Rs 787 on 22 March 2013.

The stock had underperformed the market over the past one month till 20 March 2014, sliding 3.64% compared with the Sensex's 5.86% rise. The scrip had, however, outperformed the market in past one quarter, rising 5.25% as against Sensex's 3.13% rise.

The large-cap company has an equity capital of Rs 69.56 crore. Face value per share is Rs 5.

Net profit of Apollo Hospitals Enterprise rose 3.47% to Rs 83.44 crore on 16.07% rise in net sales to Rs 993.34 crore in Q3 December 2013 over Q3 December 2012.

Apollo Hospitals is one of Asia's largest healthcare groups with 8,488 beds across 51 hospitals, 1,586 pharmacies, 92 primary care and diagnostic clinics, 100 telemedicine units across 10 countries. Health insurance services, global projects consultancy, 15 colleges of nursing and hospital management and a research foundation with a focus on global clinical trials, epidemiological studies, stem cell & genetic research and the first proton therapy center across Asia, Africa and Australia.

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