Medanta shares: Nomura buys stake in Global Health. Experts upgrade target

Market


Medanta shares have attracted good response from FIIs and DIIs after decent listing on 16th November 2022. After listing at around 19 per cent premium, global investment agency Nomura India Investment Fund and domestic institutional investor Motilal Oswal Mutual Fund has bought stake in Global Health shares. As per the NSE bulk deals, Nomura India Investment Fund bought 15 lakh Medanta shares on 16th November through a bulk deal paying 414.57 apiece. This means, global investment agency invested 62,18,55,000 or over 62 crore in this recently listed stock.

Like Nomura India Investment Fund, DII Motilal Oswal Mutual Fund also bought stake in Global Health Ltd. The mutual fund bought 36.30 lakh Medanta shares through bulk deal executed on 16th November 2022. Motilal Oswal Mutual Fund bought these shares in two separate bulk deals paying 401 apiece. The Indian mutual fund bough 15.30 lakh and 21 lakh Medanta shares in two separate bulk deals on Wednesday session.

After strong response from FIIs and DIIs, stock market experts have upgraded Medanta share price target to 550 in next two years.

Speaking on Medanta share price target for short term, Anuj Gupta, Vice President — Research at IIFL Securities said, “Medanta shares managed to attract bulls’ interest despite sideways trend on Thursday session. So, short term investors can expect this stock to hit around 465 to 480 apiece levels. Fresh entry can be done at current levels, maintaining stop loss below 390 apiece levels.”

However, Ravi Singhal, CEO at GCL Securities believes that Medanta share is a portfolio stock. He advised allottees to hold the stock maintaining stop loss below 390 for two year target of 540 to 550, upgrading from his earlier long term target of 510-515 apiece.”

Shares of Global Health Ltd that runs super specialty Medanta Hospital chain in India had made its debut on Dalal Street on Wednesday, delivering around 19 per cent listing gain to its lucky allottees.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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