Buy Apollo Hospitals Enterprise, target price Rs 5070: Axis Securities

Axis Securities has buy call on with a target price of Rs 5070. The current market price of Apollo Hospitals Enterprise is Rs 4605.35.
Apollo Hospitals Enterprise Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 66215.71 Crore) operating in Hospitals & Allied Services sector.
Apollo Hospitals Enterprise Ltd. key Products/Revenue Segments include HealthCare Services and Other Operating Revenue for the year ending 31-Mar-2022.
Financials

For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 4273.64 Crore, up 12.12 % from last quarter Total Income of Rs 3811.66 Crore and up 14.80 % from last year same quarter Total Income of Rs 3722.70 Crore. Company reported net profit after tax of Rs 226.00 Crore in latest quarter.
Investment Rationale
Strongly bounced from 20,50 day SMA and hovering around Multiple Resistance Breakout of 4,630.

Promoter/FII Holdings
Promoters held 58.66 per cent stake in the company as of 30-Sep-2022, while FIIs owned 48.48 per cent, DIIs 30.44 per cent.
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