Fortis gains on IHH plans to buy stake
According to reports, the Fortis Healthcare and SRL Diagnostics combined value stands at around Rs 19,000 crore
By ETMarkets.com | Updated:
NEW DELHI: Shares of Fortis Healthcare advanced on Tuesday on reports that IHH Healthcare Bhd is set to buy a controlling stake in Fortis Healthcare and SRL Diagnostics from Malvinder and Shivinder Mohan Singh.
Following the development, shares of Fortis Healthcare surged 4.36 per cent to Rs 198.45 on BSE. The scrip opened at Rs 195 and touched an intra-day high of Rs 199.30 and Rs 193.05, respectively.
According to media reports, the Fortis Healthcare and SRL Diagnostics combined value stands at around Rs 19,000 crore and the deal is expected to complete in the next few weeks.
On BSE, 21.35 lakh shares of Fortis Healthcare were traded on the counter as compared to a two-week average of 4.83 lakh shares.
Shares of Fortis Healthcare had hit their fresh 52-week high of Rs 230.90 on May 3, 2017 and 52-week low of Rs 142.60 on November 9, 2019.
Following the development, shares of Fortis Healthcare surged 4.36 per cent to Rs 198.45 on BSE. The scrip opened at Rs 195 and touched an intra-day high of Rs 199.30 and Rs 193.05, respectively.
According to media reports, the Fortis Healthcare and SRL Diagnostics combined value stands at around Rs 19,000 crore and the deal is expected to complete in the next few weeks.
On BSE, 21.35 lakh shares of Fortis Healthcare were traded on the counter as compared to a two-week average of 4.83 lakh shares.
Shares of Fortis Healthcare had hit their fresh 52-week high of Rs 230.90 on May 3, 2017 and 52-week low of Rs 142.60 on November 9, 2019.
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