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Fortis Healthcare shares soar 24.5% on merger buzz

Press Trust of India  |  New Delhi 

Shares of Healthcare jumped 24.5 per cent today amid reports that Manipal hospital, backed by TPG, is in advanced talks to merge the company with itself. The stock erased its early losses and soared 24.54 per cent to Rs 157.05 on BSE during the afternoon trade. At NSE, shares of the company zoomed 24.31 per cent to Rs 156.70. BSE has sought clarification from Healthcare with reference to reports that is in advanced talks to merge Health with itself. Healthcare promoters Malvinder and Shivinder have resigned as directors from the company's board following the order upholding the Rs 3,in favour of The Singh brothers have jointly tendered their resignation to the Board of Healthcare, which will discuss it in the meeting on February 13, the company said in a filing to the BSE yesterday. According to media reports, has refused to certify Q2 results as Singh brothers have said to have taken out USD 78 million from the firm.

BSE has sought clarification from Healthcare in this regard.

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

First Published: Fri, February 09 2018. 13:05 IST
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