Outlook on Vijaya Diagnostics IPO by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote and Outlook on Vijaya Diagnostics IPO by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Based on FY2021 numbers, IPO is priced at a Price to Earning of 64.3 times and EV/EBITDA of 30 times at the upper price band of the IPO, which is in line with the listed peer group. Company already has a higher market share in key geographics like Hyderabad and we do not expect the covid related benefit to continue in coming years. We believe that at ₹531, all the near term positives are priced in and leaves limited upside for the investors. Hence, we are assigning a NEUTRAL recommendation to the Vijaya Diagnostic centre limited IPO.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
