Fortis Healthcare arm acquires stake in Religare Health Trust; up 2%

The company said that one of its subsidiaries has entered into an agreement with RGAM Investment Advisors and other stakeholders to acquire stake in Religare Health Trust Trustee Manager Pte Ltd for USD 14.9 million (about Rs. 100 crore).

Fortis Healthcare stock was up by 2% to Rs. 164. The company said that one of its subsidiaries has entered into an agreement with RGAM Investment Advisors and other stakeholders to acquire stake in Religare Health Trust Trustee Manager Pte Ltd for USD 14.9 million (about Rs. 100 crore).

Fortis Healthcare Ltd is currently trading at Rs. 164, up by Rs. 3.15 or 1.96% from its previous closing of Rs. 160.85 on the BSE.

The scrip opened at Rs. 162 and has touched a high and low of Rs. 164 and Rs. 161.7 respectively. So far 179620(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7449.19 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 199.2 on 05-Aug-2015 and a 52 week low of Rs. 100.5 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 164.5 and Rs. 158.35 respectively.

The promoters holding in the company stood at 71.32 % while Institutions and Non-Institutions held 11.05 % and 17.63 % respectively.

The stock is currently trading above its 200 DMA.