Avendus bets on this Jhunjhunwala-family backed stock, projects 20% upside

Brokerage firm Avendus Capital has initiated coverage on Inventurus Knowledge Solutions Ltd, also known as IKS Health, with a ‘Buy’ rating and a price target of ₹2,020 per share.

The price target implies a potential upside of 20% from Friday’s closing level.

Avendus said that pricing based on outcome and output driven models will drive client relationships and improve long term economic benefits.

The brokerage also sees strong headroom for growth, and expects dollar revenue to grow at a compound annual growth rate of 16% over the next three years.

In addition, earnings before interest, tax, depreciation and amortisation margins are expected to expand to 33.6% by financial year 2028.

A few days back, Motilal Oswal initiated coverage on IKS, with a 'Buy' rating and a price target of ₹2,107.

It said that strong client mining, steady demand, and long term structural growth drivers support its view.

Earlier in November, Nomura started coverage on IKS Health with a 'Buy' rating and a price target of ₹2,000.

The brokerage described the company as an attractive play on the US healthcare provider ecosystem, referring to its long standing relationships with marquee enterprise clients.

Jhunjhunwala family through three discretionary trusts—Nistha, Aryavir, and Aryaman—each holding a 16.37% stake in the company as of September 2025. Rekha Jhunjhunwala also holds a 0.23% stake in the company.

IKS Health, formally known as Inventurus Knowledge Solutions, provides a care enablement platform for physician enterprises across the US, Canada, and Australia, with a primary focus on the US market.

It serves more than 778 healthcare organizations, including high-profile clients such as Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management.

Of the six analysts that have coverage on IKS Health, four of them have a 'Buy' rating, while two others have a 'Hold' recommendation on the stock.

Shares of Inventurus Knowledge Solutions Ltd. are trading 1.10% lower at ₹1,676.90. The stock is down close to 14% so far in 2025.

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