Narayana Hrudayalaya hits new high

Narayana Hrudayalaya is on the upward trajectory since Friday. Today, the stock opened almost 4% higher at Rs.1399.85 and soon went on to hit a new 52-week high at Rs.1514.80, up 9%. It has come off the highs now and is trading at Rs.1480 levels, still on the top five gainers list on the BSE.

The market is looking anew at the stock, based on its analysts call yesterday. The management seemed very optimistic and more son about its recently set up facility in Cayman, which started outpatient facility in the beginning of December and from beginning of Jan, it started other services such as the emergency room, inpatient surgeries. By mid-February onwards, its target was to start obstetrics and neonatal care and by March, all service lines will be commissioned. The management assured that the worst was behind and seemed very positive about the coming fiscal.

Last week, the company announced investment plans for a hospital in Kolkata. The company plans to invest Rs 900 crore for the first phase, aiming for a 1,100-bed facility over the next three to 10 years.