India is growing very rapidly, and its healthcare sector is fueling its growth. In the Healthcare Sector, Hospitals play a vital role, and recently, with rising healthcare awareness, lifestyle diseases, and government capex for the healthcare sector, provide an opportunity for investors.
In today’s blog post, we will give you an overview of the top hospital stocks to buy in India 2025, along with the benefits of investing in hospital stocks.
What are Hospital Stocks?
Hospital stocks refer to the shares of companies that operate hospitals. Clinic, at a different location. Their primary source of revenue is from patient care services, diagnostic, and surgical services, etc.
Top Hospital Stocks to Buy in India 2025
- Max Healthcare Institute Limited
- Apollo Hospital Enterprises Limited
- Fortis Healthcare Limited
- Global Health Limited
- Narayana Hrudayalaya Limited
- Aster DM Healthcare Limited
- Chandan Healthcare Limited
- Dr Agarwal’s Eye Hospital Limited
- Metropolis Healthcare Limited
- Krishna Institute of Medical Science Limited
| Company | Current Market Price (INR) | Market Capitalisation (in INR crore) | 52-Week High | 52-Week Low |
|---|---|---|---|---|
| Max Healthcare Institute Limited | 1,112 | 1,08,098 | 1,314 | 889 |
| Apollo Hospital Enterprises Limited | 7,462 | 1,07,384 | 7,981 | 6,001 |
| Fortis Healthcare Limited | 968 | 73,115 | 983 | 521 |
| Global Health Limited | 1,320 | 35,470 | 1,456 | 936 |
| Narayana Hrudayalaya Limited | 1,766 | 36,113 | 2,372 | 1,185 |
| Aster DM Healthcare Limited | 624 | 32,333 | 675 | 386 |
| Chandan Healthcare Limited | 232 | 568 | 279 | 140 |
| Dr Agarwal’s Eye Hospital Limited | 4,828 | 2,269 | 7,300 | 3,500 |
| Metropolis Healthcare Limited | 2,027 | 10,500 | 2,318 | 1,315 |
| Krishna Institute of Medical Science Limited | 722 | 28,886 | 798 | 474 |
Read Also: List Of Best Healthcare Stocks in India
Overview of Top Hospital Stocks to Buy in India 2025
The overview of the top hospital stocks to buy in India is as follows:
1. Max Healthcare Institute Limited
Max Healthcare Institute Limited was initially founded as “Infinitum Technologies Private Limited” in 2001. The company was renamed Max Healthcare Institute Limited in 2002 & Listed in Market in 2002 . The company is backed by Radiant Life Care and the international investment firm KKR. It operates about 22 hospitals, including diagnostic centres, hospitals, and speciality clinics primarily in North India. The company’s headquarters is situated in New Delhi.
2. Apollo Hospitals Enterprise Limited
Apollo Hospitals Enterprise Limited is one of the largest private healthcare companies in India. It has a long history of being the first to offer private healthcare in the country. Dr Prathap C. Reddy started the company in 1983. It established India’s first corporate hospital in Chennai, which revolutionised the way healthcare was delivered in the country. The company opens various hospitals across North India, offering multi-organ transplants. The company’s headquarters is situated in Chennai.
3. Fortis Healthcare Limited
Fortis Healthcare Limited was founded in 1996 by two brothers named Malvinder Mohan Singh and Shivinder Mohan Singh, as a subsidiary of Ranbaxy Laboratories. In Mohali, Punjab, Fortis Healthcare opened its first hospital, the Fortis Heart Institute, in 2001. Several Fortis hospitals hold certifications from both international and Indian accrediting organisations, including JCI (Joint Commission International) and NABH (National Accreditation Board for Hospitals & Healthcare Providers). The company’s headquarters is situated in Gurgaon.
4. Global Healthcare Limited
Originally part of Global Health Private Limited, it was founded in 2004 by renowned cardio surgeon Dr Naresh Trehan. With various strategic acquisitions, it has expanded into various parts of India, including Lucknow, Ranchi, Patna, etc. For expansion, the company launched its IPO in 2022 and became a publicly listed company. Their hospitals are generally known as Medanta. It has its headquarters situated in Gurugram.
5. Narayana Hrudayalaya Limited
Narayana Hrudayalaya Limited, also known as Narayana Health, is a famous private hospital network in India, which was founded in 2000 by cardiac surgeon Dr Devi Prasad Shetty. Through both organic growth and acquisitions, Narayana Health, one of the largest healthcare providers in India, has expanded significantly over the years. In 2016, Narayana Health was listed on the BSE and NSE. The company’s headquarters is situated in Bengaluru.
6. Aster DM Healthcare Limited
Aster DM Healthcare Limited was founded by Dr Azad Moopen in 1987. It started with a clinic in Dubai, and in 2001 started its operations in Kerala. Currently, they have more than 19 hospitals in India. The company launched its IPO in 2018 and became a publicly listed company. The company has its registered office in Bengaluru.
7. Chandan Healthcare Limited
This company was incorporated on 3rd September 2003. The company started with a diagnostic centre in Lucknow. The company expanded its diagnostic centre across India. It has recently opened a 300-bed multi-speciality hospital in Lucknow. Chandan Healthcare came up with an IPO recently in February 2025 and became a publicly listed company. The headquarters of Chandan Healthcare is situated in Lucknow.
8. Dr Agarwal’s Eye Hospital Limited
In 1957, Dr Jaiveer Agarwal and his wife, Dr Tahira Agarwal, founded this hospital. It offers a wide range of ophthalmology services, such as treatment for cataracts, refractive surgery, glaucoma, retina, and other conditions affecting the eyes. It has opened more than 150 hospitals throughout the nation over time. In 2025, it went public. Chennai is home to the company’s headquarters.
9. Metropolis Healthcare Limited
The company began its operation in 1980 and was founded by Dr Sushil Kanubhai Shah as a diagnostic centre in Mumbai. Later in 2001, his daughter Ameera Shah took charge of the company. The company has made various strategic acquisitions and expanded into countries in the Middle East and Africa. Metropolises launched its IPO in 2019. Metropolis headquarters is situated in Mumbai.
10 Krishna Institute of Medical Science Limited
The company was incorporated in 1973 and was initially named Jagdish Singh and Sons Private Limited. The first hospital by the company was opened in 2000. It changed its name to Krishna Institute of Medical Science Private Limited in 2004. The company acquired various hospitals across India. KIMS came up with an IPO in 2021 and became a publicly listed company. It has its headquarters in Telangana.
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Key Performance Indicators (KPIs)
The key performance metrics of top hospital stocks are as follows:
| Company | Debt to Equity | ROE (%) | ROCE (%) | Operating Profit Margin (%) | Net Profit Margin (%) |
|---|---|---|---|---|---|
| Max Healthcare Institute Limited | 0.27 | 11.46 | 12.27 | 23.40 | 15.30 |
| Apollo Hospital Enterprises Limited | 0.64 | 17.60 | 15.32 | 11.30 | 6.75 |
| Fortis Healthcare Limited | 0.25 | 8.68 | 10.50 | 16.30 | 10.25 |
| Global Health Limited | 0.04 | 13.19 | 18.01 | 22.04 | 14.40 |
| Narayana Hrudayalaya Limited | 0.61 | 21.80 | 17.95 | 19.88 | 14.41 |
| Aster DM Healthcare Limited | 0.19 | 156.87 | 11.59 | 16.04 | 131.13 |
| Chandan Healthcare Limited | 0.28 | 17.21 | 21.45 | 24.56 | 16.08 |
| Dr Agarwal’s Eye Hospital Limited | 0.46 | 26.07 | 15.98 | 21.18 | 13.76 |
| Metropolis Healthcare Limited | 0.01 | 10.89 | 13.31 | 15.73 | 10.93 |
| Krishna Institute of Medical Science Limited | 0.33 | 13.97 | 14.67 | 30.01 | 21.88 |
Benefits of Investing in Hospital Stocks
The key benefits of investing in Hospital Stocks are as follows:
- Increasing Demand: The demand for healthcare services is increasing. Lifestyle diseases and preventive health checkups have increased the demand for hospitals.
- Defensive Sector: The healthcare sector is always considered a defensive sector by the investor; it generally tends to give stable returns during market downturns.
- Diversified Revenue: Revenue of the hospital comes from multiple sources, including surgeries, consultation fees, diagnostics, pharmacy, etc.
- Government Initiatives: Numerous healthcare schemes are launched by the Government of India, including Ayushman Bharat. It increases accessibility for people to the hospital and increases volume.
Factors to Consider Before Investing in Hospital Stocks
There are various factors which one should consider before investing in hospital stocks, a few of which are as follows:
- Geographical Presence: Geographical presence plays an important role in the growth of a hospital. Higher urban presence results in a higher patient count and a higher bed occupancy ratio than in rural areas.
- Technological Advancement: Hospitals with advanced technological equipment, such as laser and robotic surgeries, AI-based diagnostics, generally have a competitive edge over others.
- Financial Performance: The financial performance of a company plays an important role; one should opt for investment in those hospital stocks that generally have higher revenue and profit margins.
- Efficiency: There are various factors, like bed occupancy rate, average revenue per bed, etc. play an important role in the selection of hospital stocks for investment.
Read Also: Best Diagnostic Stocks in India
Future of Hospital Stocks
The future of hospital stocks is very promising. Lifestyle-related diseases such as diabetes, cardiac arrest, etc., have increased rapidly over time. Also, people are getting aware of preventive healthcare checkup; therefore, they tend to visit hospitals regularly. Along with this India is emerging as a major medical global hub for the world; patients across the world travel to India for lower treatment costs. India’s hospital industry is valued at around 119 crores in 2024, which is expected to grow to 232 crores by 2033.
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Conclusion
On a concluding note, the Indian healthcare sector provides an opportunity to create wealth in the long run. The hospital plays a key role in the overall growth of the Healthcare industry. Along with the long-term growth potential, having exposure to the hospital sector offers stability in the portfolio during economic downturns, as it is considered a defensive investment option. However, before making any investment, one should consider key factors into account, such as financial performance, bed capacity, etc. However, it is advisable to consult your investment advisor before making any investment decision.
Frequently Asked Questions (FAQs)
Name some top hospital stocks to invest in India?
The top hospital stocks to invest in India are Apollo Hospital Enterprises Limited, Max Healthcare Institute Limited, Fortis Healthcare Limited, Chandan Healthcare Limited, Dr Agarwal’s Eye Hospital Limited, etc.
Is it safe to invest in hospital stocks?
Yes, investment in hospital stock is considered a safe investment option. They are defensive in nature, and their demand remains consistent even during the economic downturn.
Does the hospital stock declare a dividend?
Yes, there are some hospital stocks which regularly declare dividends.
What are the risks related to investing in Hospital Stocks?
There are various risks related to investing in hospital stock, such as valuation risk, operational risk, and regulatory risk.
What is medical tourism?
Medical tourism is the practice of travelling to another country to get medical treatment because of affordability.
