Shalby in good health

Shalby had been hitting new lows almost every day. Even yesterday, it hit a new low at Rs.79.85 but today, there is a complete turnaround. With volumes jumping over 22 times, the stock price today rose 20% to Rs.100.05.

The market is happy with its earnings for Q1FY20 with revenue rising 13% (YoY) to Rs.131 crore and net profit jumping up 2 times to Rs.24 crore.

EBITDA for the quarter came in at Rs.29 crore, rising 18% and margins rose from 21.4% to 22.3%.

The company is promoted by orthopedic surgeon Dr. Vikram Shah, is an Ahmedabad head quartered tertiary care multi-specialty hospital chain, with most of its hospitals located in tier 2/3 towns such as Ahmedabad, Vapi, Jabalpur, Indore, Mohali, Jaipur and Surat.

The company had offered shares in its IPO at Rs.248 per share.