Healthcare Global: Up 329% from COVID lows but down 17% from year's high; brokerages now see recovery in this stock

Healthcare Global Enterprises (HCG) has seen significant returns for its investors over the past 3 years, with its stock increasing from ₹62 in April 2020 to ₹266 as of March 22, 2023. Recently, the stock has been consolidating, falling 17 percent from its 52-week high of ₹320. Brokerages have now turned bullish on the stock due to its strong expertise in oncology services, margin expansion outlook, robust growth levers, and expectations of double-digit revenue growth. Dalal and Broacha initiated coverage on the stock with a target price of ₹391, indicating an upside of nearly 47 percent, while Sharekhan also has a buy call on HCG with a potential upside of 33 percent. HCG posted a net profit of ₹42 crore in the December quarter, while revenue rose 18.66 percent to ₹423.91 crore. The company is revamping its business model, hiring a Big-4 to drive business excellence, and looking for smaller acquisitions to drive growth.

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Healthcare Global: Up 329% from COVID lows but down 17% from year's high; brokerages now see recovery in this stock