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Last Updated : Sep 16, 2020 10:36 AM IST | Source: Moneycontrol.com

Apollo Hospitals share price gains 2% as Morgan Stanley retains overweight call

The research firm is of the view that COVID-19 has paused its growth trajectory. However, volume recovery, cost rationalisation and asset monetisation should keep B/S healthy.

 
 
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Apollo Hospitals Enterprise share price gained over 2 percent in the morning trade on September 16 after global research firm Morgan Stanley maintained its overweight call on the stock with the target of Rs 1,899 per share.

The research firm is of the view that COVID-19 has paused its growth trajectory. However, volume recovery, cost rationalisation and asset monetisation should keep B/S healthy, according to a CNBC-TV18 report.

All this, and growth resumption is likely in FY22 keeping us overweight on the stock, it said.

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The stock was trading at Rs 1,707.25, up Rs 34.30, or 2.05 percent. It has touched an intraday high of Rs 1,738.65 and an intraday low of Rs 1,684.50.

Apollo Hospitals reported a consolidated net loss of Rs 226.24 crore for the quarter ended June 30, 2020, on account of the impact of COVID-19 pandemic. The company had posted a net profit of Rs 49.15 crore for the year-ago same period.

Revenue from operations stood at Rs 2,171.50 crore in the quarter under review. It was Rs 2,571.89 crore in the year-ago period.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has been effectively using shareholders fund - Return on equity (ROE) improving since last two years. The stock is showing strong momentum: Price above short, medium and long term moving averages.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Sep 16, 2020 10:36 am
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