Buy Fortis Healthcare With Target Of Rs 180

Buy Fortis Healthcare With Target Of Rs 180Stock market analyst Hitesh Chotalia has maintained 'hold' rating on Fortis Healthcare Ltd stock with a target of Rs 180.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 164.

The stock of the company, on Sep 20, closed at Rs 167.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 187.50 and a low of Rs 99.10 on BSE.

Current EPS & P/E ratio stood at 1.50 and 113.77 respectively.

Fortis Healthcare is eyeing to strengthen its foot prints in the Asian market.

The healthcare major has decided to get named in Singapore.

But, the company has not announced any time frame for this.

Mr. Malvinder Singh, Company's Chairman stated, "We are planning to list the company in Singapore. We are yet to set timeframe for it though."

Mr. Malvinder also said that the company is eyeing to move functioning to Singapore steadily.

Recently, the company sold equity stake in Singapore-based Parkway Holdings to Malaysian sovereign wealth fund Khazanah Nasional Bhd for around Rs 320 crore.

As per sources, Fortis Healthcare is assessing a possible fund lifting propel by registering the land as well as building assets of its hospitals below a real estate investment trust (REIT) in Singapore.