Narayana Hrudayalaya hits record high on healthy outlook; stock surges 9%

Analysts believe that Narayana Hrudayalaya's revenues will increase by around 8 per cent QoQ to Rs 1,117 crore amid continued traction for elective surgeries.

Shares of Narayana Hrudayalaya surged 9 per cent to hit a record high of Rs 795 apiece in Friday’s intra-day trade, on healthy outlook. The stock of the company is engaged in the business of rendering medical and healthcare services and surpassed its previous high of Rs 775 per share, which it had touched on April 5, 2022.

Analysts believe that hospitals are structurally well-placed and the momentum is expected to continue from a robust Q1FY23.

"The momentum is likely to be driven by sequential in-patient volume and, thus, higher In-patient conversion. One important lever could be incremental