Can we bet on Hospital Stocks due to Surge HMPV Virus Cases?
Introduction: HMPV Virus Cases are surging and market reacted wildly to the reports of fresh cases in India. Hence healthcare and hospital sectors are again coming under limelight. The India VIX, a measure of market fear, surged by 13% due to a broad sell-off in mid and small-cap stocks across all sectors. The Sensex declined by more than 1,200 points, reaching a daily low of 77,960, while the Nifty plummeted close to the 23,600 mark. Hospital stocks garnered investor interest following the government's confirmation of three cases of Human Metapneumovirus (HMPV)—two in Karnataka and one in Gujarat—amidst fears of a viral outbreak causing turmoil in China.
About KMC Hospitals
KMC Speciality Hospitals (India) is in the healthcare sector running, operating, maintaining multi-specialty hospital in Trichy. The company belongs to the Kauvery Hospitals group. The Company is primarily engaged in the business of rendering medical and healthcare services.
Fundamentals:
Market Cap: ₹ 1,297Cr.; Stock P/E: 50.0 (Ind. P/E: 58.09) 👎;
ROCE: 21.7% 👍 ; ROE: 23.6% 👍;
3 Years Sales Growth: 20% 👍; 3 Years Profit Growth: 34% 👍;
Technicals:
The stock has given a strong breakout for the last 6 sessions by taking strong support around 75 levels.
RSI (56.24) is indicating price strength.
20 EMA (Black Line) is trading below 50 EMA (Orange Line).
To confirm the bullish trend 20 EMA has to get past 50 EMA and 100 EMA (Sky Blue Line) in the daily charts.
Resistance levels: 84, 92, 95
Support levels: 75, 71
About KMC Hospitals
KMC Speciality Hospitals (India) is in the healthcare sector running, operating, maintaining multi-specialty hospital in Trichy. The company belongs to the Kauvery Hospitals group. The Company is primarily engaged in the business of rendering medical and healthcare services.
Fundamentals:
Market Cap: ₹ 1,297Cr.; Stock P/E: 50.0 (Ind. P/E: 58.09) 👎;
ROCE: 21.7% 👍 ; ROE: 23.6% 👍;
3 Years Sales Growth: 20% 👍; 3 Years Profit Growth: 34% 👍;
Technicals:
The stock has given a strong breakout for the last 6 sessions by taking strong support around 75 levels.
RSI (56.24) is indicating price strength.
20 EMA (Black Line) is trading below 50 EMA (Orange Line).
To confirm the bullish trend 20 EMA has to get past 50 EMA and 100 EMA (Sky Blue Line) in the daily charts.
Resistance levels: 84, 92, 95
Support levels: 75, 71
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