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Sep 14, 2017 02:32 PM IST | Source: Moneycontrol.com

CLSA retains buy on Apollo Hospitals but cuts target to Rs 1400

CLSA has retained a buy on Apollo Hospitals although it has cut the target price of the stock from Rs 1480 to Rs 1400. The firm expects Apollo Hospitals recovery in business from H2 FY18 onwards.

CLSA retains buy on Apollo Hospitals but cuts target to Rs 1400

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Global reseacrh firm CLSA has retained a buy on Apollo Hospitals although it has cut the target price of the stock from Rs 1480 to Rs 1400. The firm expects Apollo Hospitals recovery in business from H2 FY18 onwards.

CLSA has a however trimmed Apollo Hospital's earnings by 28-43 percent on back of weak Q1 numbers and price caps. The global research firm believes the recovery in its hospitals business is seen only from the second half of this fiscal; it also moderated its margin assumptions.

Technical Analyst Mitessh Thakkar of miteshthacker.com has a sell on Apollo Hospitals with a stop loss of Rs 1,092 and target of Rs 1,020."

At 12:03 hrs Apollo Hospitals Enterprises was quoting at Rs 1,065.40, down Rs 5.85, or 0.55 percent. It has touched an intraday high of Rs 1,073.00 and an intraday low of Rs 1,050.00.
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