Budget 2022 Pick with Anil Singhvi: Analyst sees over 28% upside in this Rakesh Jhunjhunwala backed Fortis Healthcare stock

In a special edition of Budget 2022 Pick with Zee Business Managing Editor Anil Singhvi, market analyst Avinash Gorakshakar recommends a Buy on Fortis Healthcare Services for good returns with a time-frame of 12 months. 

According to the analyst, the hospital chain company Fortis Healthcare is one of the leading and integrated healthcare services company and also provides specialised services. The company has 27 hospital centres across pan-India with coverage of 4100 operational bed capacity, he added. 

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Besides, hospital chain, the company also has a diagnostic subsidiary called as SRL Diagnostic, which has been in operation for quite some time, providing both specialised and normal diagnosis. 

SRL Diagnostic has 2300 customer touchpoints, and operates in 600 cities, Gorakshakar said, adding further that these touchpoints may double in coming year, as per the management. 

The market analyst sees a target of Rs 350-360 per share for next 12 months. The stock on Thursday closed over 2 per cent lower to Rs 280.2 per share on the BSE, as compared to 1.2 per cent fall in the BSE Sensex. 

The celebrity investor Rakesh Jhunjhunwala holds 3,19,50,000 equity shares, which aggregates to 4.23 per cent stakes, as per the December shareholding pattern available on the BSE. 

Rakesh Jhunjhunwala, who is also known as the Big Bull of Indian stock market, along with his wife Rekha Jhunjhunwala and other Associates publicly holds around 38 stocks with a net worth of over Rs 34,414.7 crore, as per the stock analysis website Trendlyne. 

Leading asset management companies such as Aditya Birla Sun Life AMC, Nippon India AMC and Mirae AMC have held 4.32, 2.84 and 1.76 per cent respectively as per the December shareholding pattern of the company.