New Delhi, March 24 -- Domestic brokerage Avendus Spark Institutional Equities, in its latest note, has initiated coverage on Dr Agarwal's Health Care one of the country's largest eye care hospital chains, with a 'buy' rating and a target price of Rs.495 apiece. This implies an upside potential of 18.35% from the stock's Tuesday closing price of Rs.418.25 per share.

The brokerage's bullish outlook stems from the company's strong position in the eye care market, growing network presence, and acquisition strategy.

As per the brokerage's estimates, the Indian eye care services market is expected to grow at a 12-14% CAGR over FY24-28E, driven by the high prevalence of eye disorders and rising demand for surgical correction.

It also highlig...