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Showing posts from March 7, 2010

Fortis Healthcare in the pink of health after overseas acquisition

Fortis Healthcare jumped 3.53% to Rs 184.65 at 9:48 IST after the company said it will buy 23.9% of Singapore's Parkway Holdings from US buyout firm TPG Capital as a part of its expansion drive into Asia and the Middle East. The announcement was made before trading hours today, 12 March 2010. Meanwhile, the BSE Sensex was up 50.90 points, or 0.30%, to 17,218.86. On BSE, 17.51 lakh shares were traded in the counter as against an average daily volume of 5.87 lakh shares in the past one quarter. The stock hit a high of Rs 187.45, a record high. It hit a low of Rs 180 so far during the day. The stock had hit a 52-week low of Rs 65.60 on 17 March 2009. The stock had outperformed the market over the past one month till 11 March 2010, soaring 17.45% compared with the Sensex's 6.29% rise. It outperformed the market in past one quarter, spurting 51.46% as against 0.29% decline in the Sensex. The mid-cap healthcare chain has an equity capital of Rs 317.34 crore. Face value per sh…