Metropolis Healthcare Share: On the last trading day of the week, stock markets opened on a downward note with Sensex sliding by 0.63% and Nifty by 0.59%. Amidst the market’s declining trend, contrary to expectations, there was a noticeable rise in the shares of Metropolis Healthcare Limited by 3.62%. The share volume has increased by more than 2.62 times, hinting at significant buying activity among investors.
Metropolis Healthcare Share: From a technical standpoint, as of October 13, 2023, the 200-day moving average (DMA) for this stock was ₹1418.98, while the 50-DMA stood at ₹1421.80. Currently, on the BSE, its share price is ₹1565.25. An interesting observation is that the 50-DMA has recently moved above the 200-DMA, signaling a strong and consistent upward trend in the long run. On October 6, the company released its Q2FY24 report, which had a visible impact on its share performance.
Metropolis Healthcare Share Several significant revelations from the company’s report include:
- A jump in company growth by up to 13%, excluding high-tech, COVID, COVID-allied, and PPP contracts. This boost is primarily driven by robust customer acquisition and volume growth.
- There was a quarter-on-quarter improvement in the operating margins, resulting from better operating leverage and improved product mix.
- A year-on-year surge of nearly 15% was observed in Business to Consumer (B2C) revenue, indicative of volume expansion.
- The Premium Wellness Segment emerged as the fastest-growing segment in Q2FY24.
- As of September 30, 2023, the company’s gross debt stood at approximately ₹44 crores.
Furthermore, CRISIL reaffirmed its long-term bank loan rating of AA- for Metropolis Healthcare and maintained a short-term rating of A1+. The rating outlook remained stable. This decision by the credit rating agency was in response to a decline in revenue from COVID and related sectors.
Delving deeper into the company profile, Metropolis Healthcare Limited is a leading diagnostic company in India. But its reach isn’t limited to just India; it has a vast network of diagnostic centers spread across South Asia, Africa, and the Middle East. Notably, there has been significant buying activity in the stock as it has delivered a return of over 18% on a Year-To-Date basis.