13-Oct-2026 07:42:29
Expansion
MORGAN STANLEY ON HOSPITALS
• Latest Supreme Court observations seen as incrementally negative. • Possibility of pricing controls extending beyond oncology increases regulatory uncertainty. • Initial estimates suggest <3% downside to Apollo Hospitals’ hospital EBITDA under oncology-specific controls. • EBITDA impact could rise to high-single digits if similar restrictions extend to non-oncology medicines. • Government’s focus on balancing affordability with market dynamics suggests a measured approach remains possible. • India’s low bed density and continued need for private-sector capacity expansion support a constructive long-term sector view.
STANLEY LIFESTYLES LTD