Max Healthcare jumps over 16% in five sessions

15 Sep 2022 , 02:12 PM

Shares of Max Healthcare Institute have risen 16.78% in five sessions. The stock had outperformed the market over the past one month, rising 21.67% compared with 0.88% rise in the Sensex. The scrip outperformed the market in past one quarter, gaining 24.72% as against Sensexs 14.17% rise. The scrip had also outperformed the market in past one year, climbing 11.69% as against Sensexs 2.15% rise. On the technical front, the stocks daily RSI (relative strength index) stood at 76.70. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 378.25, 374.12 and 374.92, respectively. These levels will act as crucial support zones in near term. Max Healthcare Institute (MHIL) is one of Indias largest hospital chain (considering only income from healthcare services) in fiscal 2022. MHIL has major concentration in North India consisting of a network of 17 healthcare facilities. The Max network includes all the hospitals and medical centres owned and operated by the company and its subsidiaries, partner healthcare facilities and managed healthcare facilities. The healthcare services companys network PAT stood at Rs 229 crore in Q1 FY23, up 11% versus Rs 205 crore in Q1 FY22 and up 33% versus Rs 172 crore in Q4 FY22. The network gross revenue stood at Rs 1,473 crore, registering a growth of 6% year on year (YoY) and 14% quarter on quarter (QoQ). On a like&8208;to&8208;like basis, gross revenue (excl. Covid&8208;19 vaccination and related antibody tests) for Q1 FY23 was at Rs 1,471 crore, reflecting a growth of 18% YoY. Powered by Capital Market – Live News