IHH Healthcare Bhd edged up 1 sen to RM7.96 as at 10:56am on Monday, with 965,800 shares changing hands, as investors continued to weigh the group’s plans to raise its stake in India’s Fortis Healthcare to 51% by 2030.
The healthcare counter opened at RM7.94 and climbed to an intraday high of RM8.03 before easing to a low of RM7.92. It was last traded 0.13% higher, with buying volume at 49,500 shares against 19,200 shares on the sell side.
The stock remained below its last adjusted closing price of RM7.95, while the bid stood at RM7.95 and the selling price at RM7.96.
CIMB Securities maintained its BUY call on IHH with a sum-of-parts target price of RM10.30, saying the group’s legal issues surrounding Fortis are unlikely to have a material impact on operations.
The research house said IHH could raise its Fortis ownership from 31.17% to 51% through primary capital injections, secondary-market purchases or a potential share-swap involving Gleneagles India, with the full increase potentially requiring about RM5.8 billion based on Fortis’ market capitalisation as at 4 September.
IHH’s net gearing stood at 0.6 times as at June 2026, while CIMB said it expects the planned stake increase to have minimal impact on its RM10.30 target price.
The research house also noted that IHH’s original 31.1% Fortis investment involved a fresh INR40 billion capital injection, with no acquisition consideration paid directly to the Singh brothers.
CIMB continues to view India as a key long-term growth market for IHH, supported by an ageing population, rising chronic disease prevalence and a shortage of quality hospital capacity.
