Fortis Healthcare in pink of health after large bulk deal

Fortis Healthcare surged 5.49% to Rs 161.40 at 14:21 IST on BSE after a bulk deal of 16.57 lakh shares was executed on the scrip at Rs 157.65 per share at 10:30 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 181.77 points or 0.56% at 32,294.97. The S&P BSE Mid-Cap index fell 13.48 points or 0.09% at 15,398.48.

Bulk deal boosted volume on the scrip. On the BSE, 65.16 lakh shares were traded on the counter so far as against the average daily volumes of 8.31 lakh shares in the past one quarter. The stock had hit a high of Rs 164 and a low of Rs 153 so far during the day. The stock had hit a record high of Rs 230.90 on 3 May 2017 and a 52-week low of Rs 142.60 on 9 November 2016.

The stock had underperformed the market over the past one month till 2 August 2017, falling 1.86% compared with 4.06% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 29.48% as against Sensex's 7.80% rise. The scrip had also underperformed the market in past one year, declining 19.39% as against Sensex's 17.26% rise.

The mid-cap company has equity capital of Rs 518.52 crore. Face value per share is Rs 10.

Fortis Healthcare reported consolidated net loss of Rs 37.52 crore in Q4 March 2017 compared with net loss of Rs 87.60 crore in Q4 March 2016. Net sales rose 5% to Rs 1123.43 crore in Q4 March 2017 over Q4 March 2016.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India.

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