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Fortis Healthcare shares climb nearly 5%
Shares of Fortis Healthcare rose nearly 5 percent Monday as the company completed the acquisition of 51 percent stake in Fortis Hospital and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.
New Delhi: Shares of Fortis Healthcare rose nearly 5 percent Monday as the company completed the acquisition of 51 percent stake in Fortis Hospital and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.
The scrip gained 4.64 percent to settle at Rs 178.25 on BSE. During the day, it surged 10.5 percent to Rs 188.25.
At NSE, shares of the company jumped 4.48 percent to end at Rs 178.20.
On the volume front, 7.16 lakh shares of the company were traded on BSE and over 48 lakh shares changed hands at NSE during the day.
The company was contemplating, "acquisition of 51 percent economic interest in Fortis Hospotel by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd", Fortis Healthcare said in a BSE filing on Saturday.
It was also mulling acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre, by one of the company's wholly-owned subsidiary, Fortis Hospitals.
"These acquisition transactions were subject to approval of our shareholders," Singapore Exchange Securities Trading and unit holders of RHT Health Trust, Fortis Healthcare said.