Press Trust of India / Mumbai Mar 31, 2009, 12:55 IST
Pharma company Wockhardt Ltd today surged over 10 per cent on the Bombay Stock Exchange after reports surfaced that Fortis Healthcare will acquire a substantial stake in its arm Wockhardt Hospitals.
Shares of the company opened on a firm note at Rs 83.20, then gained further momentum to touch an intra-day high of Rs 87.95, a jump of 10.21 per cent from its previous closing price on the BSE.
Wockhardt Ltd was later trading at Rs 86, up 7.77 per cent and over 1.33 lakh shares exchanged hands on the BSE.
Reports said that Fortis' promoters have reached a broad agreement with Wockhardt's founder Habil Khorakiwala on a possible deal to acquire up to 74 per cent in the hospital chain for close to Rs 750 crore.
Besides, some private equity firms are also reported to have evinced interest in the company.
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