Medanta parent Global Health's shares up 167% from IPO price; should you invest?
Global Health (Medanta) have almost turned multibaggers in the last 1 year, surging over 99 percent as against an over 8 percent gain in benchmark Nifty. The stock has already more than doubled its investor wealth, surging 167 percent, from its issue price of ₹336. Meanwhile, in 2023 YTD, it has advanced over 91 percent, giving positive returns in 9 of the 11 months so far and negative in just 2 - April (-2 percent) and (January -5.2 percent).
The stock has soared 15 percent in November so far extending gains for the 7th straight month since May. Between May and November, it has jumped 75 percent. In a recent note, brokerage house Markets Mojo has picked Medanta as a top pick for November.
"The medical industry has seen significant interest from investors in recent years and is expected to continue going forward. India is highly under-penetrated in terms of good quality hospitals. With awareness of Mediclaim, more and more demand is likely for good quality hospitals.
We have identified a stock that got listed on the exchange just last year and has seen expansion at a rapid pace. The name of the stock is Global Health. We believe Global Health will get benefits of the same," said the brokerage.
The company’s quality is good, the financial trend is very positive and the technical suggests a bullish trend for the stock and the valuation is very expensive. The score of the stock is 77 and the brokerage recommends buying it at ₹911. One of the top performers in this sector: The hospital Industry has been in high demand for investors and even more so after COVID-19.
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