A healthcare stock has been on a bull run of late, defying weak stock market sentiment. Still, ICICI Securities believes it has more steam left. The brokerage firm has upgraded the stock to a 'buy' from an 'add' and raised the target price.
The stock we are discussing is Nephrocare Health Services. The stock has jumped 64% year-to-date compared to a 12% drop in equity benchmark Sensex.
On a monthly scale, Nephrocare Health Services share price has been in the green since April this year. So far in September, it has clocked a gain of nearly 10%.
Nephrocare Health shares hit a 52-week high of ₹767.95 on 12 June this year after hitting a 52-week low of ₹445 on 19 December last year.
On Thursday, 10 September, the stock ended 1.94% higher at ₹747.35 on the BSE.