I don’t follow NH in particular, but hospitals as a sector has certain characteristics which needs to be considered.
It is usually an asset heavy sector. Property, machinery, etc needs to be put up first which involves high costs.
Addressable market is huge and will continue to grow, with ever increasing population and diseases and illnesses.
Competition from organised and unorganised sector will keep increasing, though with lots of regulations to follow, organised sector is likely to grow more and gain market share.
With the high penetration of health insurance in the sector, the dynamics of business is changing with insurance companies gradually gaining the upper hand and dictating terms. It’s often insurance companies that decide which expenses are to be allowed and which are not and according to that claims are processed.
Plus there is often a lag in payment of claims so hospitals have to make arrangement for working capital needs as they need to keep paying staff and expenses for maintenance of facilities on a regular basis.
I am not a big fan of the sector, but that has not stopped the stocks and the sector from going up a lot. 
Goes to show that one has to put personal biases aside when considering investing in stocks, esp if one is a techno funda investor.
@Karthi_Keyan1 I don’t have much idea about Sundaram holdings
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