We had recommended a BUY on Apollo Hospitals (AHEL) in a detailed report dated 11 July, 2012 with a target price of Rs732. We than updated our call on 27 September 2012, with a target price of Rs840. We also suggested BUY on AHEL in “India Strategy- A time for midcaps” on 25 October 2012, with a target price of R860. The stock has touched the high of Rs900 in today's trading session registering 39.8% return from our recommended price of Rs644. We believe valuations are at comfortable levels now and upside from the stock remains capped. We advise investors to book profit in the stock. In longer term, however, we continue to remain positive on the company as AHEL represents the best investment opportunity to participate in the promising growth story of Indian Healthcare sector.
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