Shares of Fortis Healthcare
slumped nearly 13 per cent today after Malaysia's IHH
Healthcare Berhad said it is not close to "concluding any
negotiations" to buy controlling stake in the company.
Shares of Fortis Healthcare
slumped nearly 13 per cent today after Malaysia's IHH
Healthcare Berhad said it is not close to "concluding any
negotiations" to buy controlling stake in the company.
The stock dived 12.96 per cent to settle at Rs 172.30 on
BSE. During the day, it tanked 13.66 per cent to Rs 170.90.
At NSE, shares of the company dropped 12.83 per cent to
close at Rs 172.50.
The company's market valuation also fell by Rs 1,315
crore to Rs 8,932.99 crore.
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 company, however, maintained that it is constantly
evaluating growth opportunities in select geographies in Asia
including India, which is its fourth "home market".
According to media reports, the company, which was
earlier speculated to have been in advanced talks with the
Singh brothers - Malvinder and Shivinder - to acquire
controlling stake in Fortis Healthcare and SRL Diagnostics,
has pulled out of the talks.
"IHH is not, nor is it close to, concluding any
negotiations or due diligence or transactions in India at this
point in time," IHH Healthcare Berhad said in a filing to
Bursa Malaysia.
Fortis Healthcare, which has already got shareholders'
nod to raise up to Rs 5,000 crore, has maintained that it was
still evaluating the best possible way to raise the funds and
no firm decision has been approved by the board till date.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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