Health stock Park Medi World jumps 10% despite stock market crash. Emkay sees over 25% more upside

Shares of Park Medi World surged 10% after Emkay Research initiated coverage with a Buy rating and a target price of ₹350, implying about 35% upside from current levels. The stock closed at ₹278.25 on the BSE. Emkay highlighted the hospital chain's low capex model at around ₹3.2 million per bed, cluster-based operations, asset-light expansion strategy, and forecast revenue and EBITDA CAGR of 24% and 23% respectively between FY26 and FY29, valuing the stock at 21x Mar-28E EV/EBITDA.