Apollo Hospitals Enterprise fell 0.46% to Rs 1,318.50 at 11:02 IST on BSE on media reports that a foreign brokerage has cut its rating on the stock to neutral from buy.
Meanwhile, the S&P BSE Sensex was down 27.53 points or 0.11% at 25,651.40.
On BSE, so far 3,856 shares were traded in the counter as against average daily volume of 14,172 shares in the past one quarter. The stock was volatile. The stock lost as much as 1.4% at the day's low of Rs 1,306 so far during the day. The stock lost 0.11% at the day's high of Rs 1,323 so far during the day. The stock had hit a record high of Rs 1,544 on 2 March 2016. The stock had hit a 52-week low of Rs 1,131.80 on 30 April 2015. The stock had underperformed the market over the past one month till 25 April 2016, sliding 4.6% compared with Sensex's 1.35% rise. The scrip had also underperformed the market in past one quarter, declining 6.72% as against Sensex's 4.87% rise.
The large-cap company has equity capital of Rs 69.56 crore. Face value per share is Rs 5.
According to reports, the foreign brokerage stated that the current valuations of Apollo Hospitals Enterprise stock already captures the long-term growth prospects for the company.
Apollo Hospitals Enterprise's net profit rose 15% to Rs 109.23 crore on 16.7% growth in net sales to Rs 1380.52 crore in Q3 December 2015 over Q3 December 2014.
Apollo Hospitals is one of Asia's largest healthcare groups.
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