Apollo Hospitals in good health

Apollo Hospitals is teetering close to its high of Rs.1219.55 as it is currently traded a few inches away at Rs.1216.50, up almost 3% over yesterday’s close. Intra day high is at Rs.1217.10.

The stock has been in the limelight over the past couple of days based on its Corporate Review and Business Update 2014, wherein is plans to add 2,175 beds over next three years. It aims to open 12 new hospitals and this at a cost of Rs.2033 crore. Of this Rs.591 crore has already been invested. The company plans to fund this through a mix of debt and internal accruals.

Currently it runs a chain of 50 hospitals with a bed capacity of 8617 beds.