“We generally like businesses that generate cash and we have seen lack of cash generation from Western Europe and US businesses. Yes they can give you scale, yes they can give you dollar revenues but does that translate to cash flow? Does that translate to high ROEs? The evidence of that is still not there.”
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For investors in hospital stocks, Khemka says the right time for entry is when the company has completed its capex, because the downside potential from that level is less, while the upside is good.