“Initiated coverage on Manipal Health with a 'Buy' rating and a target price of ₹1,000, indicating a 25.32% upside from its last price. The brokerage expects Manipal Health to sharpen its focus on profitability after doubling bed capacity since FY23, with profit after tax potentially tripling between FY26 and FY29, and net debt improving to 0.7 times estimated FY27 EBITDA.”