Fortis Healthcare trims losses, stock down 1% after falling 13% intraday

A combined 19.15 million equity shares changed hands on NSE and BSE till 10:20 am.

Fortis Healthcare trimmed most of its losses and was down 1% after hitting 30-month low of Rs 126, down 13% on the National Stock Exchange (NSE) in intra-day trade, on the back of heavy volumes. The stock was trading at its lowest level since February 11, 2015.

The trading volumes on the counter more than doubled with a combined 19.15 million equity shares 3.7% of total equity of Fortis Healthcare exchanging hands on the NSE and BSE till 10:20 am.

On August 14, Fortis Healthcare had informed the stock exchanges that, Fortis Healthcare Holdings Private Limited, the promoter of the company, sold 5.46 million (1.05%) equity shares on August 10, through off-market.

Due to sale from July 25, 2017 to August 10, 2017, the cumulative shareholding of Fortis Healthcare Holdings, has been reduced by 2% accordingly, this disclosure has been made, it added.

Earlier, on July 18, 2017, Fortis Healthcare Holdings had sold 13.5 million or 2.6% stake of Fortis Healthcare for Rs 203 crore through open market on NSE. CLICK HERE FOR BULK DEAL DETAILS

CLICK HERE FOR Substantial Acquisition of Shares and Takeovers

Meanwhile, total promoters holding in company declined from 62.91% on January 28, 2017, to 42.96% at the end of June 2017 quarter, the shareholding pattern data shows.