New Delhi, Aug. 5 -- Domestic brokerage firm Emkay Global Financial Services has retained its 'Buy' rating on Park Medi World and raised its target price to Rs.375 per share from Rs.350. The upward revision comes after the company's June quarter earnings surpassed the brokerage's estimates and implies a potential upside of about 32% from the stock's latest closing price of Rs.285 per share.

Emkay Global Financial Services said Park Medi World delivered a strong June quarter performance, with revenue rising 19% year-on-year (YoY) to Rs.4.8 billion, driven by 12% YoY growth in average revenue per occupied bed (ARPOB) following the revision in CGHS rates.

The brokerage noted that inpatient (IP) volumes increased 16% YoY, while outpatient (...