Health Care

Fortis Healthcare shares slump 13%; mcap dips by Rs 1315 cr

Fortis Healthcare shares slump 13%; mcap dips by Rs 1315 cr”

Shares of Fortis Healthcare Ltd tumbled almost 9% on Friday, posting the biggest intraday percentage loss in over seven months after Malaysia's Integrated Healthcare Holdings pulled out of talks to buy a controlling stake in Malvinder Singh and Shivinder Singh's company.

Shares of Fortis Healthcare Ltd fell by as much as 10.13% pct at Rs 178.

The fall came after Malaysia's Integrated Healthcare Holdings said it is not engaged in any negotiations in India now, according to a regulatory filing to Singapore, Malaysian stock exchanges on Thursday.

On Tuesday, ET had reported that IHH Healthcare Bhd will be buying a controlling stake in Fortis Healthcare and SRL Diagnostics from Malvinder and Shivinder Mohan Singh.

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Fortis Healthcare Ltd is now trading at Rs 177.95, down by Rs 20 or 10.1% from its previous closing of Rs 197.95 on the BSE.

On the volume front, 28.69 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day. "The board of the company had approved the enabling fund raising options up to Rs 5,000 crore including but not limited to qualified institutional placement, foreign currency convertible bonds or any other method...", Fortis Healthcare had said in a BSE filing earlier this month.

The promoters holding in the company stood at 52.3 % while Institutions and Non-Institutions held 34.9 % and 12.8 % respectively.

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