Wednesday, April 2, 2014

Fortis Healthcare ltd : Avoid

Hello Sir - Could you provide your views on Fortis Healthcare at CMP. I am a long term investor. Thank you Goverdhan 
1. Goverdhan ji, Fortis Healthcare ltd is a 10 rupee face value healthcare stock which traded at 97. 
2. Year high of Fortis Healthcare ltd is 114 and year low 84 both are normal ( new reader of my blog please note when year high/ low ratio is below 2 then we assume that stock is stable and have a limited downside ). 
3. Promoters holding in Fortis Healthcare ltd is 71.34 % FII hold 8.77 % and DII hold 1.28 % , Promoters reduce their holding from 81.48% to 75 % then 71.92 % and now it is 71.34% this is very bad and i do not like reducing promoters holding because as my past experience if promoters reduce their holdings then in 90 % cases stock is beaten down.
4.Fortis Healthcare ltd never pay dividends which is a negative point as my theory i invest in dividend paying stocks because if my holding period is long then i got dividends in my holding period. 
5. Bulk deals also show speculation activity.  Fortis Healthcare ltd EPS is very low like 0.41 and 0.21 in a quarter. 
6. So my view is negative for Fortis Healthcare ltd and i think you may consider Indraprastha medical in healthcare sector if you not read my article about Indraprastha medical then read it here Indraprastha-medical-corp ltd
7. I have no any share of Fortis Healthcare ltd.

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