New Delhi, June 19 -- Shares of Park Medi World surged 10% despite weakness in the broader market after Emkay Research initiated coverage of the hospital chain with a 'Buy' rating and a target price of Rs.350, implying around 35% upside from current levels. Park Medi World share price today closed at 278.25 apiece on the BSE.

According to Emkay Research, Park Medi World has built a differentiated business model that combines quality healthcare with affordability, enabling it to serve the underserved mass market. The brokerage noted that the company's lean cost structure and high asset utilisation create a virtuous cycle of profitability and superior return ratios.

Park has one of the lowest capital expenditure requirements per bed in th...