“Maintained a 'Buy' rating on Apollo Hospitals with a revised target price of ₹9,350 per share. The brokerage noted strong Q4FY26 EBITDA, 5% above estimates, and positive developments from the HealthCo stake sale and Keimed merger, which are building an integrated pharmacy and digital healthcare platform. Management's guidance for ₹1,650-1,750 crore EBITDA for the merged entity by Q4FY27 exit run-rate provides comfort, with an expected EBITDA CAGR of 25% over FY26-FY28.”