Fortis Healthcare advances after large bulk deal

Fortis Healthcare rose 3.23% to Rs 184 at 13:11 IST on BSE after a bulk deal of 88.78 lakh shares was executed on the scrip at Rs 186 per share at 10:04 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 341.72 points, or 1.24%, to 27,871.69

Bulk deal boosted volume on the scrip. On BSE, so far 98.55 lakh shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 189.70 and a low of Rs 178.70 so far during the day. The stock hit a 52-week high of Rs 199 on 16 August 2016. The stock hit a 52-week low of Rs 141.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 17 October 2016, rising 1.89% compared with 3.74% decline in the Sensex. The scrip aso outperformed the market in past one quarter, rising 2.92% as against Sensex's 0.93% decline.

The mid-cap company has an equity capital of Rs 463.31 crore. Face value per share is Rs 10.

On a consolidated basis, Fortis Healthcare's net profit fell 74.07% to Rs 25.26 crore on 7.64% rise in net sales to Rs 1103.22 crore in Q1 June 2016 over Q1 June 2015.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

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