Apollo Hospitals Shares hit new One-Year-high on strong results

In intraday trade on Wednesday, shares of Apollo Hospitals Enterprise hit a new one-year high or 52-week high at Rs.1445 and were trading higher by over 4.5pc at Rs.1382.80 during mid-session.

The stock was moving upwards on the back of strong quarterly-results posted by the Company. According to its Q1 results, the net profit of the company scaled at Rs.79.30-Cr for Q1FY20 by a rise of 32pc, as compared to Rs.60.20-Cr for the corresponding quarter in the previous year.

The healthcare major has reported 25% rise in its EBITDA at Rs.231.50-Cr., besides overall EBITDA margins have improved to 12.3pc this quarter V/s 11.86pc in Q1FY19.

Reacting to this strong performance, the stock was gaining momentum in the mid-morning session. Apollo Hospitals stock opened at Rs.1,399 per share and registered a high of Rs.1445.00 and also dipped to a low of Rs.1,369.35 per share.

At 12.25pm, the stock was trading at Rs.1386.05 per share, up by 4.81% on Wednesday. Meanwhile, the benchmark indices were upbeat with Sensex at 37,362.50 up by 404 points and the Nifty at 11043, up by 117.50 points in trade.

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