Why Aditya Khemka avoids largecap pharma, prefers small & midcap stocks

“Hospitals are a wonderful business. In fact, I do not think many people in the investing Street understand that barring FMCG, the only other sector that has negative working capital is hospitals. So the negative working capital indicates that when your profits grow by Rs 100, your cash flow grows by Rs 120 or Rs 110. And that is a fantastic business to be in as an investor. ”

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