'Fortis can move to Rs 162-168 levels'

In a chat with ET Now, Prakash Diwan, Head - Institutional Business, Networth Stock Broking, talks about the outlook of Fortis.

What do you think is the road forward for Fortis here? Do you expect any kind of play on the stock?

If you look at both the players involved here taking very small steps towards the right price realisation and Fortis has done its bit in terms of gaining the confidence of the shareholders today. But I don think they are going to be very overtly or enthusiastically going in for it unless it really makes sense and that's a very narrow band in which the valuations could make sense for them to acquire Parkway. So, going forward, the stock could probably be very range bound, but Fortis particularly has the upside to move into that Rs 162-168 kind of a band and stabilise at some level there.