We initiate coverage on Asarfi Hospitals Ltd (AHL) with a ‘Buy’ rating and a Target Price (TP) of Rs.155 per share, implying 125% upside potential from current levels over the next 24 months. Established in 2008, AHL is a key multi-specialty tertiary healthcare service provider in the Dhanbad Area, founded and managed by first-generation entrepreneur. AHL is a undiscovered gem in healthcare space. AHL operating with a total bed capacity of 300 beds, comprising 250 beds at its Heart and Neuro Hospital, which is operating at occupancy rate of 65% and 50 beds at its New Cancer Hospital, operating at occupancy rate of 25%.

View PDF Report