 "Fortis Healthcare gains on acquisition of 51% stake in Fortis Hospotel")
Fortis Healthcare has surged 11% to Rs 188 on the BSE in early morning trade after the company on Saturday said it has completed the acquisition of 51% stake in Fortis Hospotel Ltd and acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd.
Earlier in February 4, 2016, the company engaged in healthcare facilities business had said that its board approved the acquisition of 51% economic interest in Fortis Hospotel Ltd, a subsidiary of the Religare Health Trust (RHT), by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd,” Fortis Healthcare said in a BSE filing.
It had also said that it was contemplating “acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd, by one of its wholly-owned subsidiary, Fortis Hospitals Ltd”.
At 09:38 am, the stock was up 9% at Rs 185 on the BSE, as compared to 0.18% rise in the S&P BSE Sensex. A combined 2.97 million shares changed hands on the counter on the BSE and NSE.
Earlier in February 4, 2016, the company engaged in healthcare facilities business had said that its board approved the acquisition of 51% economic interest in Fortis Hospotel Ltd, a subsidiary of the Religare Health Trust (RHT), by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd,” Fortis Healthcare said in a BSE filing.
It had also said that it was contemplating “acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd, by one of its wholly-owned subsidiary, Fortis Hospitals Ltd”.
At 09:38 am, the stock was up 9% at Rs 185 on the BSE, as compared to 0.18% rise in the S&P BSE Sensex. A combined 2.97 million shares changed hands on the counter on the BSE and NSE.