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Shares of Apollo Hospitals have surged 31.78% in seven trading sessions from its previous closing low of Rs 4399.50 posted on 8 November 2021. The counter hit a record high of Rs 5,845.25 in intraday today. The stock has zoomed 159% from its 52-week low of Rs 2237 recorded on 25 November 2020.
The counter saw demand after the company posted a strong second quarter results on 12 November 2021. The company reported a 311% jump in consolidated net profit to Rs 247.8 crore in Q2 FY22 from Rs 60.27 crore posted in Q2 FY21.
Consolidated net sales grew by 34.6% to Rs 3,717 crore in Q2 FY22 from Rs 2,760.72 crore posted in Q2 FY21. Profit before tax stood sharply higher at Rs 382.99 crore in Q2 FY22 as compared to Rs 65.60 crore recorded in Q2 FY21, registering a 483% jump.
EBITDA jumped 105.1% to Rs 615 crore in Q2 FY22 from Rs 299.8 crore reported in Q2 FY21. EBITDA margin grew by 568 basis points to 16.5% in Q2 FY22 from 10.9% in Q2 FY21.
On the operational front, the company said that occupancy across the group was at 4,984 beds in Q2FY22 (representing 65% occupancy) as compared to 4,119 beds (representing 56% occupancy) in Q2 FY21. The Q2 FY22 occupancy in mature hospitals was at 3,518 beds (representing 65% occupancy). New hospitals had an occupancy of 1,466 beds (representing 66% occupancy) in Q2FY22.
On the technical front, the stock's RSI (relative strength index) stood at 85.291. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 4566.61 and 4344.58 respectively. These levels will act as crucial support zones in near term.
Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.
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