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Fortis Healthcare shares surge 17% on merger speculation

IANS  |  Mumbai 

Stocks of Healthcare closed higher by over 17 per cent on Friday on the back of reports that international TPG backed is "in advanced talks to merge Health with itself".

At one point during the intra-day trade, the company's shares zoomed over 24 per cent to touch a high of Rs 157.05 per share.

The company's scrip on the zoomed by 17.61 per cent or Rs 22.20 to close at Rs 148.30 from its previous close at Rs 126.10.

On its part, Healthcare informed the that it "is still evaluating the best possible way to raise the fund and no firm decision in this regard has been approved by the Board till date".

In an unrelated development, the promoters of Healthcare -- Malvinder and Shivinder -- had on Thursday resigned from the company's board, which was intimated through a late night filing.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 09 2018. 20:44 IST
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