Why is Fortis Health. falling/rising?
As of 02-Sep, Fortis Healthcare Ltd's stock price is 928.50, showing a 2.5 (0.27%) increase and a total return of 2.02% over the last three days. The stock is trading above all key moving averages, indicating a strong upward trend, supported by robust financial performance and outperformance against the Sensex, despite a decline in investor participation.
As of 02-Sep, Fortis Healthcare Ltd's stock price is currently at 928.50, reflecting an increase of 2.5 (0.27%). The stock has been gaining for the last three days, with a total return of 2.02% during this period. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. The company has demonstrated robust financial performance, with a low Debt to EBITDA ratio of 1.15 times and impressive growth in operating profit at an annual rate of 79.69%. Additionally, the latest quarterly results showed record highs in PAT, net sales, and PBDIT, contributing to positive investor sentiment. However, there has been a notable decline in investor participation, with delivery volume falling by 40.86% against the 5-day average.In the broader market context, Fortis Healthcare has outperformed the benchmark Sensex, with a 1-week return of +1.14% compared to the Sensex's -0.78%. This trend of outperformance is consistent over various time frames, including a 1-month return of +8.06% against the benchmark's -0.55% and a year-to-date return of +29.03% versus the Sensex's +2.58%. The stock's strong institutional holdings at 56.97% further support its stability and growth potential, as these investors typically possess better analytical capabilities. Overall, Fortis Healthcare's recent price movement reflects a combination of strong financial fundamentals and positive market performance, despite a decrease in trading volume.
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