Fortis Healthcare gains on overseas unit sale

Reuters Market Eye - Shares in Fortis Healthcare Ltd hit the highest since September 2011. The stock was up 9.8 percent to 133.85 rupees as of 9:51 a.m.

Malaysia's IHH Healthcare Bhd said on Friday it is buying Fortis' Singapore unit.

The divestment will enable Fortis to focus more on India operations, Sharekhan said in a note.

Fortis could thus post a "strong" operating performance and regain investor confidence, Sharekhan adds.

(Reporting by Indulal PM)