On June 1, Narayana Hrudayalaya shares surged nearly 4% in early trade to scale a 52-week high of Rs 927.95, buoyed by the company’s strong growth prospects.

At 10.54 am, shares were trading at Rs 922.45, up 3.25% on the National Stock Exchange, as the stock extended its uptrend to the fourth straight session. The stock has increased 19%.

Robust quarterly numbers and solid growth prospects have activated an up move in the stock price. The company fired from all three guns in March as net profit, revenue, and profitability increased.

During January-March, the company’s net profit soared threefold YoY to Rs 173.2 crore on a topline of Rs 1,221.60 crore, up 30% with the highest revenue.

The EBITDA margin also prolonged to 23.8% for the quarter, compared to 19.7% in the year-ago period.

SMIFS Institutional Research assumes Narayana’s Cayman Island and India operations endure to do well. Narayana also explores opportunities in other therapies, such as oncology and gastro, which improves the speciality mix. SMIFS expects patients and case mixes to recover, resulting in improved EBITDA.

Geojit Financial Services also had similar expectations from Narayana, as it believes growth will continue amid an increased patient

footfall, rising Average Revenue Per Operating Bed (ARPOB) and the violent capex plan for organic and inorganic expansion.

Prabhudas Lilladher finds the valuation striking and holds expectations of sustained growth momentum; the firm gave a “buy” call on the stock, with a price target of Rs 980 per share.