Fortis in good health
By
Research Desk
about 9 years ago
Fortis Healthcare has hit a new high today at Rs.171.90 and the stock remains firmly in the green, up almost 3.5% at Rs.169.
The stock is up, reacting to the news it announced after market hours on Friday. The company sold its entire 100% stake in its Singapore hospital, a subsidiary of Fortis to Concord Medical Services for Rs.251 crore. The deal is expected to be completed on or about April 06, 2015.
Prior to this, the company had been in the limelight after it was learnt that ace investor, Rakesh Jhunjhunwala acquired 3.4 million shares representing 0.75% stake of Fortis Healthcare at a price of Rs.119.35 on BSE.