Apollo Hospitals to replace Indian Oil in Nifty 50 index
Inclusion to be effective from 31 March, stock witnesses bullish trend.
Apollo Hospitals Enterprises Ltd has come into the limelight for its entry in the Nifty 50 index. The share has been trending higher today. The scrip opened at Rs 4,570 and made a day’s high of Rs 4,747.60. The stock is currently trading at about Rs 4,596, up by 4.88% on the NSE.
The National Stock Exchange (NSE) has made an announcement today that Apollo Hospitals Enterprise will be included in its Nifty 50 index effective from 31 March 2022. The company will replace Indian Oil Corporation and will be the first company engaged in the healthcare sector to have included in the popular Nifty 50 index. One of the advantages of getting into the index is that the stock would witness higher buying volumes from exchange-traded funds (ETFs) as they aim to mirror the index.
Talking about its recent quarterly results, in Q3FY22, revenue grew by 31.85% YoY to Rs 3638.93 crore from Rs 2759.84 crore in Q3FY21. On a sequential basis, the top-line was down by 2.1%. PBIDT (Ex OI) was reported at Rs 587.03 crore, up by 50.41% compared to the year-ago period and the corresponding margin was reported at 16.13%, expanding by 199 basis points YoY. PAT was reported at Rs 237.3 crore, up by 100.05% from Rs 118.62 crore in the same quarter for the previous fiscal year. The PAT margin stood at 6.52% in Q3FY22 expanding from 4.3% in Q3FY21.
Established in 1983, Apollo Hospitals Enterprise Limited has emerged as Asia’s foremost integrated healthcare services provider and has a robust presence across the healthcare ecosystem, including hospitals, pharmacies, primary care & diagnostic clinics and several retail health models.
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