Fortis Healthcare gains 4 pc; Wockhardt up 2.32% on BSE

MUMBAI: Shares of Fortis Healthcare on Tuesday gained nearly four per cent in the morning trade on the Bombay Stock Exchange a day after the company said it will buy 10 hospitals from Wockhardt for Rs 909 crore.

Shares of Fortis opened firm on the BSE and surged 3.96 per cent over the previous close to touch a high of Rs 120.65.

The scrip was later trading at Rs 117.30, up 1.08 per cent on the BSE.

Shares of Wockhardt Hospitals too saw a two per cent rise on the BSE on news of successful fund raising, which the company had been planning since last year, to retire its debt money.

Wockhardt shares opened firm and gained 2.32 per cent to touch a high of Rs 180.90. It was later quoting at Rs 176.85, up 0.03 per cent on the BSE.

Hospital chain Fortis yesterday announced the acquisition of 10 of Wockhardt's hospitals for Rs 909 crore. The buyout would add 1,902 beds to Fortis' network, taking its capacity to 5,180 across 38 hospitals.

The deal is expected to be completed by the end of this year.