# Zerodha co-founder and CEO Nithin Kamath has sparked a broader debate on market valuations.

*business · news · 2026-04-08 · Business Today*

## Key points

- Nithin Kamath highlighted that Narayana Health's market cap is much lower than many financial firms.
- Hospitals like Narayana Health operate 18,000 beds but are valued less due to capital-intensive models.
- Kamath noted that markets favor financial firms for their scalability and asset-light structures over essential services.
- He described a disconnect between societal impact and financial valuation, not necessarily a market mispricing.
- Kamath's comments have prompted investors to reconsider how value is assigned across different sectors.

**Companies:** Narayana Health
**Countries:** India

[Read the full story on Business Today](https://www.businesstoday.in/latest/corporate/story/why-do-finance-firms-outrank-hospitals-nithin-kamath-flags-valuation-gap-524746-2026-04-08)

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