New Delhi: IIFL Securities on Thursday recommended buying shares of Max Healthcare Institute Ltd for a short duration of 2-3 days. Giving a Buy rating on the stock, the brokerage firm recommended a target price of Rs 896 and advised the shareholders to maintain the Stop Loss at Rs 853. It recommended the Max Healthcare shares to be purchased at Rs 865-871 per equity share.
Max Healthcare share news
Max Healthcare shares have given around 23 per cent returns in the last six months and have rallied around 54 per cent in the last one year.
Max Healthcare Institute Ltd on May 22, 2024 declared its Q4 Results 2024 and reported a 2.81 per cent decline in profit after tax at Rs 311 crore. The company’s Profit After Tax (PAT) was at Rs 320 crore in the same quarter of the previous fiscal. The company informed that its network gross revenue stood at Rs 1,890 crore as compared to Rs 1,637 crore in the year-ago period.
In its statement, Max Healthcare Institute said, “The minor drop in PAT is mainly due to lower effective tax rate last year and net loss at new units.”
The Max Healthcare Institute board had recommended a final dividend of Rs 1.5 per equity share of face value of Rs 10 for the financial year 2023-24.
Max Healthcare Institute Q4 results
Quarter Ended
Total Income
Net Profit/Loss
Earnings Per Share
31/03/24
747.88
241.77
2.49
31/12/23
633.43
158.12
1.63
30/09/23
644.91
161.31
1.66
30/06/23
586.36
126.06
1.3
31/03/23
547.93
126.37
1.3
Stock Market update
Meanwhile, the brokerage firm said Nifty is expected to find support at 23,150 level. 23,700 is likely to act as resistance on the upside. Bank Nifty is likely to find support at 49,700 and 50,500 level is likely to act as resistance.
Asian markets opened in Green today. In the early trade, Nikkei was trading up by 13.27 points. South Korean KOSPI was up by 38.96 points and Taiwan was up by 167 points.
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