Apollo Hospitals shares hit 52-week high! Should you buy it? what levels should you look forward to? EXPERT calls it a TOP stock… BUT tells this

Stock to Buy - The stocks of Apollo Hospitals Enterprises Limited today hit 52-week high of Rs 4335 on the intraday basis on Monday. At 1:40 pm, they were trading at Rs 4308.50. They were up by Rs 244 or 6 per cent. Nilesh Jain Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking calls it a top counter and also said that the segment also holds a lot of promise. 

Jain said that this is a counter for long term investment and advised buying it on dips. He said that the stock has moved some distance and the right levels to buy it is between Rs 4,100 and Rs 4,200. He gives three target prices – each with a short term, positional term and long term view.  

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Jain said that he expected the Apollo Hospitals stocks to test levels of around Rs 4,500 over the next 4-5 trading sessions. He puts the target price at Rs 4,800 over the next 2-3 months. The stock is expected to reach levels of around Rs 5000 over the next 6-8 months.  

He puts the stop loss at Rs 3900.  

The technical analyst said that he expected some profit booking in this stock in the near term.  

The rally on Monday is on the back of strong results posted by the company on Friday. It reported a consolidated revenues of Rs 3,784 cr for the quarter ended 30 June versus Rs 2179 cr for Q1FY21. The profit for the period stood at Rs 500 cr as against the loss od Rs 226 cr during the same period in Q1FY21.  

The Earnings Per Share stood at Rs 34.03 for the reporting quarter versus the loss per share at Rs 14.97.