Fortis Healthcare has jumped to a new high in opening trades on news of acquiring Singapore healthcare giant.
The stock opened at Rs 180 and surged 4% to touch a new high of Rs 185. The stock is now trading with a 2.5% gain at Rs 183. Around 521,000 shares have been traded on the BSE so far.
The company announced that it has bought the entire 23.9 per cent stake held by TPG Capital in Singapore’s Parkway Holding. The deal was worth $686 million or Rs 3,119 crore.
The acquisition is being viewed as the largest overseas acquisition by an Indian company in the healthcare space.
