Fortis Healthcare Intraday Buy Call

Fortis Healthcare Intraday Buy CallTechnical analyst Kunal Saraogi has maintained 'buy' rating on Fortis Healthcare Limited stock with a target of Rs 145.

According to analyst, the stock can be purchased with a stop loss of Rs 132.

The stock of the company, on February 01, closed at Rs 134.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 187.50 and a low of Rs 129 on BSE.

Current EPS & P/E ratio stood at 2.70 and 51.34 respectively.

Fortis Healthcare has signed a contract with the promoters of the Lifeline Hospital at Alwar in the state of Rajasthan to run and run the 100-bed facility.

According to the company, the move is in proportion to Fortis` strategy to fortify its attendance in the country's tier-II cities.

The summation of Lifeline Hospital takes the total network of Fortis to 53 hospitals with more than 8,000 beds in 13 Indian states.

Lifeline Hospital is currently a 100 bed facility and the plan is to increase it to a 150-bed facility by the coming time.

While talking on the development, Fortis Healthcare CFO Yogesh Sareen stated, "As part of our expansion strategy, Fortis is focused on increasing penetration into smaller towns and cities in India through such strategic partnerships."

Vinayak Healthcare (P) Founder Director Harish Gupta, said, ``With this collaboration, we are confident enough that the public of Alwar will definitely be benefited with the quality of tertiary care services for which they had to travel to Delhi, Jaipur and other major cities.``