Fortis Health has target of Rs 100: Maheshwari

Ashish Maheshwari, Director of Globe Capital Markets is of the view that Fortis Healthcare has target of Rs 100.

Maheshwari told CNBC-TV18, "Fortis Healthcare is one the largest player in private healthcare segment operating with 22 hospitals and 2,600 beds primarily in Northern India. The company came into the black last quarter after reporting losses for a few years. Besides this, erstwhile promoters of Ranbaxy have shown their focus area that it will be healthcare and the money, which they have got will be rooted through Fortis Healthcare for expanding the business. So in my view this is the company where they will not have dearth of cash for next 3-4 years.”

He further added, “This company is also having manageable debt portfolio and healthcare is a segment where be it economic upturn or downturn people would not like to compromise on quality of the treatment. We are also envisaging that because of current downturn overseas, there will be good amount of medical tourism, which is also going to happen in the next 2-3 years to India and Fortis being one of the largest player is going to get benefit. We have recommended this stock to our clients with a price target of Rs 100 in the next 12-months."

Disclosure: Analyst doesn't hold the above stock but has recommended it to the clients.

Source: Moneycontrol