Fortis Healthcare tumbles after large bulk deal

Fortis Healthcare lost 6.37% to Rs 130.05 at 14:06 IST on BSE after a large bulk deal of 1.14 crore shares was executed on the scrip at Rs 138.65 per share at 09:18 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 164.40 points or 0.49% at 33,291.39. The S&P BSE Mid-Cap index was down 94.08 points or 0.55% at 17,012.21.

Bulk deal boosted volume on the scrip. On the BSE, 1.35 crore shares were traded on the counter so far as against the average daily volumes of 4.49 lakh shares in the past one quarter. The stock had hit a high of Rs 140 and a low of Rs 127.25 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 123.40 on 22 November 2017.

The stock had outperformed the market over the past one month till 11 December 2017, rising 3.16% compared with the Sensex's 0.42% rise. The scrip, however, underperformed the market over the past one quarter, declining 9.36% as against the Sensex's 4.94% rise. The scrip, also, underperformed the market over the past one year, sliding 18.39% as against the Sensex's 25.08% rise.

The mid-cap company has equity capital of Rs 518.60 crore. Face value per share is Rs 10.

Fortis Healthcare's consolidated net profit fell 10.49% to Rs 22.61 crore on 3.16% rise in net sales to Rs 1156.61 crore in Q1 June 2017 over Q1 June 2016.

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

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