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Shares of Fortis Healthcare rose nearly 5 per cent today as the company completed the acquisition of 51 per cent stake in Fortis Hospotel and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.
The scrip gained 4.64 per cent to settle at Rs 178.25 on BSE. During the day, it surged 10.5 per cent to Rs 188.25.
At NSE, shares of the company jumped 4.48 per cent to end at Rs 178.20.
The company was contemplating, "acquisition of 51 per cent economic interest in Fortis Hospotel by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd", Fortis Healthcare said in a BSE filing on Saturday.
It was also mulling acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre, by one of the company's wholly-owned subsidiary, Fortis Hospitals.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)