Blue Jet Healthcare shares rise then fall after rating

Blue Jet Healthcare's shares rose more than 4 percent early on March 21 but later fell nearly 2 percent. This decline occurred after Emkay Global started coverage on the stock with a 'Buy' recommendation, setting a target price of Rs 1,150. This suggests a potential increase of 24 percent from the last closing price. As of 1:40 PM, Blue Jet Healthcare's shares were trading at Rs 907. So far this fiscal year, the stock has increased by 138 percent. The company is included in the portfolios of 13 mutual funds, with a combined market value of approximately Rs 106 crore as of February 2025. Blue Jet's third-quarter earnings showed significant growth. The net profit surged by 208 percent year-on-year, reaching Rs 99 crore compared to Rs 32.1 crore the previous year. Revenue from operations also grew by 90.9 percent year-on-year, amounting to Rs 318.4 crore, up from Rs 166.8 crore in Q3 FY 2024. On the operational side, EBITDA, which reflects earnings before interest, tax, depreciation, and amortization, increased by 127 percent year-on-year to Rs 124 crore. The EBITDA margin also improved, rising by 630 basis points to 39.9 percent from 32.7 percent in the same period last year. JPMorgan recently reviewed Blue Jet Healthcare and maintained a 'Neutral' outlook, citing new product launches and growth opportunities. The brokerage has set its price target for the stock at Rs 640, an increase from Rs 425 in September.