 "Sagility India soars 5%, hits record high as Jefferies initiates with 'Buy'")
Sagility India share price: Shares of recently-listed management services company, Sagility India, were in demand on Friday, December 20, 2024, as the scrip moved up to 4.99 per cent to hit a fresh record high (all-time high) of Rs 46.09 apiece.
The uptick in Sagility India share price was fuelled after New York, US-based brokerage firm Jefferies initiated coverage with ‘Buy’ on Sagility India, with a target price of Rs 52 per share. The target reflects an upside of 18.45 per cent from the previous close (December 19) of Rs 43.90.
According to reports, Jefferies anticipates the company will achieve a compound annual growth rate (CAGR) of 12 per cent in revenue and 40 per cent in profit over FY25-27, which supports a positive earnings growth outlook and sustains its current price-to-earnings (PE) multiples.
Sagility India IPO Listing
Sagility India made a subdued debut on the stock exchanges on November 12, after its initial public offering (IPO) concluded. On the BSE, Sagility India shares opened at Rs 31.06, marking a 3.53 per cent premium over the IPO allotment price of Rs 30. Similarly, on the National Stock Exchange (NSE), the shares also listed with a 3.53 per cent premium at Rs 31.06.
About Sagility India
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Headquartered in Bengaluru, Sagility India is a healthcare-focused company that provides technology-enabled services to US-based clients. It offers a variety of services, including claims management, revenue cycle management, payment integrity, and clinical care.
Sagility India's clients include health insurance companies, hospitals, physicians, and diagnostic centres. It operates a global workforce of 28,000 employees across 15 cities in five countries, including India, the Philippines, the United States, Jamaica, and Colombia.
Sagility India market capitalisation is Rs 21,300.04 crore, according to BSE. The company is currently under the BSE IPO category.
At 9:43 AM, Sagility India share was trading 3.64 per cent higher at Rs 45.50 per share. In comparison, BSE Sensex was trading flat, with a negative bias at 79,204.45 levels.