Fortis Healthcare jumps on bargain hunting

Fortis Healthcare rose 10.88% to Rs 158.95 at 14:03 IST on BSE on bargain hunting after the stock slumped 11.43% in the preceding six trading sessions to Rs 143.35 on 10 March 2015, from a recent high of Rs 161.85 on 28 February 2015.

Meanwhile, the BSE Sensex was up 31.52 points, or 0.11%, to 28,741.39.

On BSE, so far 19.32 lakh shares were traded in the counter, compared with an average volume of 3.85 lakh shares in the past one quarter.

The stock hit a high of Rs 169 and a low of Rs 142 so far during the day. The stock hit a 52-week high of Rs 169.50 on 28 February 2015. The stock hit a 52-week low of Rs 93.60 on 18 March 2014.

The stock had outperformed the market over the past one month till 10 March 2015, rising 23.84% compared with 1.25% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.70% as against Sensex's 3.16% rise.

The mid-cap company has an equity capital of Rs 462.79 crore. Face value per share is Rs 10.

On a consolidated basis, Fortis Healthcare reported net loss of Rs 22.28 crore in Q3 December 2014 as against net profit of Rs 389.09 crore in Q3 December 2013. Net sales rose 0.93% to Rs 1011.81 crore in Q3 December 2014 over Q3 December 2013.

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 speciality facilities. Currently, the company operates its healthcare delivery services in India, Singapore, Dubai, Mauritius and Sri Lanka with 55 healthcare facilities (including projects under development), approximately 10,000 potential beds and 270 diagnostic centres.

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