Shares of Indraprastha Medical Corporation Limited witnessed strong buying interest on Friday, rallying 8.59% to Rs 392.90 after the company reported a healthy performance for the first quarter of FY27. The stock gained momentum following a 9% year-on-year rise in net profit and an 11% growth in revenue during the June quarter.The company reported a consolidated net profit of Rs 56 crore for Q1FY27, compared with Rs 51.5 crore in the same quarter last year. Revenue from operations climbed to Rs 406 crore, up from Rs 365 crore in Q1FY26, reflecting steady business growth.In a board meeting held on August 6, 2026, the company’s board approved September 18, 2026, as the record date to determine eligible shareholders for the dividend for FY2025-26 and participation in the upcoming Annual General Meeting. The board also approved convening the company’s 38th Annual General Meeting (AGM), scheduled for September 24, 2026.Stock Performance: Short-Term Weakness, Long-Term Wealth CreationWhile Friday’s rally stood out, the stock’s broader performance has remained muted in the near term. Shares have remained largely flat over the past month and have declined nearly 18% over the last year. However, investors with a longer investment horizon have been rewarded, as the stock has delivered an impressive price return of around 170% over the past three years.The company currently commands a market capitalisation of approximately Rs 3,317 crore, while its 52-week high stands at Rs 640.85.From a technical perspective, Indraprastha Medical Corporation shares are showing signs of renewed strength. The Relative Strength Index (RSI) stands at 40, indicating that the stock is neither in an overbought nor oversold zone. Typically, an RSI below 30 is considered oversold, while levels above 70 indicate overbought conditions. The stock is currently trading above 7 out of 8 key Simple Moving Averages (SMAs), suggesting a positive technical setup and improving momentum.Foreign institutional investors (FIIs) have also shown increased confidence in the company. Their holding in Indraprastha Medical Corporation increased to 2.77% in the June 2026 quarter from 2.43% in the previous quarter, indicating gradual institutional accumulation.With strong quarterly growth, improving technical indicators, and increased foreign investor participation, the stock has regained investor attention after a period of subdued performance.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)