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Avendus Spark Rates Dr Agarwal's Health Care as Buy

3/25/2026

35 8 Full Breakdown

Summary

Story summary

Avendus Spark has initiated coverage on Dr Agarwal's Health Care with a Buy rating and a INR495 target, signaling an 18.35% upside.
The note cites strong growth in the Indian eye care market, with a 12-14% CAGR projected for FY24-28.
It also projects a 32% revenue CAGR for Dr Agarwal's from FY22-26.
Caution arises from recent price corrections, with critical support at INR400 and a buying signal above INR465.

History

Historical Context

The Indian eye care sector has evolved significantly since the 1976 survey revealing a 1.3% blindness rate, primarily due to cataracts. Government initiatives, including the National Program for Control of Blindness launched in 1995, have improved access to eye care. By 2021, the market was valued at INR20,000 crore, with organizations like Dr Agarwal's Health Care leading a projected 12-14% growth in the sector.

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Story summary

Avendus Spark has initiated coverage on Dr Agarwal's Health Care with a Buy rating and a INR495 target, signaling an 18.35% upside.
The note cites strong growth in the Indian eye care market, with a 12-14% CAGR projected for FY24-28.
It also projects a 32% revenue CAGR for Dr Agarwal's from FY22-26.
Caution arises from recent price corrections, with critical support at INR400 and a buying signal above INR465.

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