Reuters Market Eye - Shares in Apollo Hospitals Enterprise Ltd close 2 percent higher after broker Bank of America-Merrill Lynch starts coverage on the healthcare firm with a "buy" rating and a target price of 1,136 rupees.
BofA-Merrill says it expects Apollo Hospitals' sales to grow 21 percent over fiscal years 2014-2018 and profit after taxes by 26 percent during the same.
"With strong execution track record, Apollo is a multi-year structural growth story of under penetrating market, increasing affluence, demand for quality healthcare and strong brand equity," the investment bank said in a note dated Monday.
(Reporting by Abhishek Vishnoi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app