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Fortis Healthcare shares rise

August 24, 2009

MARKETS GLOBAL/STOCKSShares in Fortis Healthcare posted smart gains on the BSE on news that Fortis planned to spend over 9 billion rupees to acquire 10 hospitals from Wockhardt.

The acquisition is expected to be completed by December end and will enhance the aggregate bed capacity of the Fortis Network to over 5,000, Fortis said in a statement.

Shares in Fortis Healthcare gained 6.5 percent to close at 116.05 rupees.

The stock was among top gainers of the BSE Healthcare index on Monday. Fortis was also one of the top traded stocks on the BSE.

The BSE Healthcare index has gained 7.6 percent since July, almost equalling the rise in the benchmark. The sectoral index however lags the rise in the Sensex by around 25 percent since April.

Would you buy shares of Fortis at current price?

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