Fortis Healthcare - CMP 307

It has been trading in range for close to 12 months and firm close above 315 should confirm breakout of range. Recent price action and today’s volume suggests that it should cross hurdle soon.
Fundamentally hospital sector is performing well and same is trending in quarterly results. Fortis has been performing well on operating parameters and holds major stake in diagnostic chain SRL. There has been change in promoter post 2018 and majority held by institutional investors (31.1%). Legal litigation outcome and approval on name change is pending which shall clear dis-association with promoters