Buy Fortis Healthcare To Achieve Target Of Rs 180

Buy Fortis Healthcare To Achieve Target Of Rs 180Technical analyst Kunal Saraogi is bullish on Fortis Healthcare (India) Limited and has maintained 'buy' rating on the stock with a target of Rs 175-180.

Mr. Saraogi said that the investors can buy the stock above Rs 154.

The stock of the company, on March 24, ended at Rs 150.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 185.70 and a low of Rs 129 on BSE.

Current EPS & P/E ratio stood at 3.01 and 49.83 respectively.

Fortis Healthcare has collaborated with US-based TotipotentRX Cell Therapy Pvt Ltd in order to establish stem cell therapy centres crosswise its select hospitals.

The stem cell therapy centres will provide cellular treatments and will carry out stem cell clinical research procedures relating to diabetes, cancer, heart troubles and neurological ischemia.

Mr. Shivinder Mohan Singh, Fortis Healthcare (India) MD stated, "This tie up allows Fortis to partner with the finest in the field of stem cell therapy and lead the way in this specialised new treatment modality, acknowledged to be at the cutting edge of modern medicine."

TotipotentRX said that it will also start laboratories in select Fortis hospitals in order to process stem cells before transferring them in the sufferers.

In addition, Fortis Healthcare is making plans to establish a Cardiac Centre at Deen Dayal Upadhyaya (Coronation) Hospital (Dehradun) under a PPP with the Uttarakhand administration.

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