Espresso shot of the day – Fortis Healthcare Ltd up by 8.58 percent

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Espresso shot of the day – Fortis Healthcare Ltd up by 8.58 percent

August 16, 2021
Espresso shot of the day – Fortis Healthcare Ltd up by 8.58 percent

FORTIS HEALTHCARE LTD 257.45 (+8.58 %) BSE – INE061F01013 | 16TH AUGUST 2021


Fortis Healthcare Limited—an IHH Healthcare Berhad Company—is a leading integrated healthcare services provider in India. It is one of the largest healthcare organisations in the country with 36 healthcare facilities (including projects under development), 4000 operational beds and over 400 diagnostics centres (including JVs). Fortis is present in India, United Arab Emirates (UAE) and Sri Lanka. It draws strength from its partnership with global major and parent company, IHH, to build upon its culture of world-class patient care and superlative clinical excellence. Fortis employs 23,000 people (including SRL), who share its vision of becoming the world’s most trusted healthcare network. Fortis offers a full spectrum of integrated healthcare services, ranging from clinics to quaternary care facilities and a wide range of ancillary services.

Recent Drivers

  • On Aug 14, 2021, Fortis Healthcare Ltd. reported a consolidated net profit of Rs 430.61 crores for the first quarter ended June 30, 2021, aided by an exceptional gain from the remeasurement of stake held in the SRL-DDRC joint venture. The company had posted a consolidated net loss of Rs 187.88 crores in the same quarter last fiscal.
  • On Aug 14, 2021, Fortis Healthcare reported the consolidated revenue from operations stood at Rs 1,410.31 crores in the first quarter of this fiscal as against Rs 605.95 crores in the year-ago period.
  • On July 27, 2021, Fortis Healthcare announced that CRISIL has upgraded long-term rating from 'CRISIL A/ Watch Developing Watch Developing (continues on 'Rating Watch with Developing Implications')' to 'CRISIL A plus/ Watch Developing' for the company and its subsidiaries – Escorts Heart Institute and Research Centre, Fortis Hospotel, Fortis Hospitals and International Hospital.
  • On July 11, 2021, the company initiated various measures like engaging with key corporate clients, leveraging digital platforms and developing further competencies in cancer care, neuro and renal sciences, to improve margins and grow revenues in the fiscal. It was also looking to bring in new-age technologies in its diagnostics arm SRL.
  • On July 2, 2021, Fortis Healthcare and Apollo Hospitals started administering Russian COVID-19 vaccine Sputnik V at two of their hospitals in Delhi-NCR.
(Sources: Moneycontrol, The Economic Times, Business Standard)


Technical Force*

  • S&P BSE 500 month till date gain up by 3%
  • Traded on new 52-week-high value: 260.7
  • Spurt in volume by more than 5.48 times compared to previous vol. 3 months avg. volume: 2,39,962
  • Quantity traded: 6,30,002 | Deliverable quantity: 2,71,904 (43.16%)
  • Stock price has jumped more than 110% from one-year low level: 123.3 (Oct 30, 2020)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 260.7 | 52-week-low: 123.3

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

 234.03

201.52

178.23

145.72

122.43

89.92

66.63

-

Fibonacci Pivot

201.52

180.20

167.03

158.55

145.72

132.88

124.40

111.23

89.92


Today’s Close

257.45

SMA

BSE

10 DAY

243.44

20 DAY

244.76

50 DAY

240.42

200 DAY

192.88


Some Key Ratios (Source: BSE)

Market Cap: 19,436.4 crores

PE: -1115.11

OPM%: 28.65

ROE%: -0.2

Promoters holding%: 31.17

Prev. Close: 237.1

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.