Reuters Market Eye - HSBC starts coverage on Apollo Hospitals
India is substantially under-invested in healthcare with 17 percent of the world's population but only 6 percent of the beds, says report.
"Meager public healthcare spending in India presents a big investment opportunity for private players," it says.
Says strong growth in hospital business, increasing contribution from pharmacy and adequate funding for expansion, bodes well for Apollo Hospitals.
However, sees near-term earnings for Fortis remaining under pressure given its high interest burden after overseas expansion. While its growth in India is strong, HSBC sees stress in its international prospects
Shares in Apllo Hospital up 0.2 percent, Fortis down 1.6 percent.
