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Primed for next leg? Narayana Hrudayalaya, Max Healthcare, Apollo Hospitals among 5 picks by Ambit in Healthcare sector

 Ambit is bullish on the Indian healthcare sector and has initiated coverage on four hospital chains with a "Buy" rating: Narayana Hrudayalaya, Max Healthcare, Apollo Hospitals, and Krishna Institute of Medical Sciences.

Ambit believes that the Indian healthcare sector is poised for growth due to the following factors:

Low healthcare penetration: India has one of the lowest healthcare penetration rates in the world, with only 3.6% of GDP being spent on healthcare. This leaves a significant opportunity for private hospitals to grow as the country's economy grows and more people seek access to quality healthcare.

Favorable demographics: India is home to a young and growing population, which is a major driver of demand for healthcare services. The country's population is expected to grow from 1.38 billion in 2020 to 1.64 billion by 2030.

Rising incomes: As incomes in India rise, more people will be able to afford private healthcare. This is expected to drive growth in the hospital sector.

Increasing focus on preventive healthcare: The Indian government is increasingly focusing on preventive healthcare, which is expected to drive demand for diagnostic services and preventive care.

Ambit believes that Narayana Hrudayalaya, Max Healthcare, Apollo Hospitals, and Krishna Institute of Medical Sciences are well-positioned to capitalize on the growth opportunities in the Indian healthcare sector. These companies have strong track records of growth, well-established brands, and a focus on quality care.

Here is a brief overview of each company:

Narayana Hrudayalaya is a leading provider of cardiac care in India. The company has a strong track record of growth and has been consistently ranked as one of the best hospitals in India.

Max Healthcare is a leading provider of multi-specialty care in India. The company has a strong presence in tier 1 and tier 2 cities and is expanding its reach into tier 3 and tier 4 cities.

Apollo Hospitals is a leading provider of multi-specialty care in India. The company has a strong brand and a wide network of hospitals across the country.

Krishna Institute of Medical Sciences is a leading provider of multi-specialty care in Karnataka. The company has a strong track record of growth and is expanding its reach into other parts of the country.

Ambit believes that these four companies are well-positioned to deliver strong growth in the coming years. Investors who are looking to invest in the Indian healthcare sector should consider these companies.