Healthcare Global Enterprises - Company Update - ICICI Direct
Posted On: 2020-12-15 22:34:39 (Time Zone: Arizona, USA)
Signs of a strong recovery amid sharp sequential growth of 28%, 75% in revenues, EBITDA, respectively, in Q2FY21, normalisation of OPD/IPD inflows as travel restrictions ease out point towards a better H2FY21 vis-à-vis H1FY21. The domestic business has already reached near pre-Covid levels on the back of strong growth seen in Tier-II/III cities. Furthermore, revival of inter-state travel and resumption of medical tourism from neighbouring countries (like Bangladesh) is likely to reach pre-Covid levels by the end of FY21, which will further support financials.
Healthcare stocks were trading in the positive zone, with the S&P BSE Healthcare index rising 70.84 points or 0.34% at 21214.29 at 09:48 IST. Among the components of the S&P BSE Healthcare index, Suven Life Sciences Ltd (up 6.9%), J B Chemicals & Pharmaceuticals Ltd (up 2.15%),Lupin Ltd (up 2.1%),Neuland Laboratories Ltd (up 2.04%),Wockhardt Ltd (up 1.92%), were the top gainers. Among the other gainers were Alembic Ltd (up 1.9%), Torrent Pharmaceuticals Ltd (up 1.65%), Granules India Ltd (up 1.51%), Hikal Ltd (up 1.3%), and Healthcare Global Enterprises Ltd (up 1.28%). On the other hand, Suven Pharmaceuticals Ltd (down 2.38%), Take Solutions Ltd (down 2.17%), and Alembic Pharmaceuticals Ltd (down 1.76%) moved lower.