Fortis Healthcare notified the stock exchange that it had received an unsolicited binding offer, which was under consideration
The court listed the matter for further hearing on April 25
The stock dipped 10% to Rs 128, extending its Tuesday's 4% decline , after the company said that it has decided to demerge hospital business into Manipal Hospitals.
The stock dipped 3.5% to Rs 142, falling 8% from intra-day high of Rs 154 on the BSE
Shares of Fortis Healthcare were trading 1.25 per cent lower at Rs 158.20 apiece on BSE
TPG Capital, Manipal Health Enterprises likely to make voluntary open offers
The company also reported its September quarter net loss at Rs 236.1 million
no futures and options contracts of Fortis shall be available for trading in equity derivatives segment from March 29
The Fortis-RHT deal and core business growth can drive earnings, but many reasons to remain cautious too
Religare Enterprises locked in lower circuit of 5% at Rs 60, while Fortis Healthcare was trading 5% lower at Rs 139, after falling 8% to Rs 135 on the BSE in intra-day trade.
Last week, the SC had allowed financial institutions, with whom shares of Fortis Healthcare Limited have been pledged
Replying to notices, Fortis Healthcare said its wholly-owned arm Fortis Hospitals had deployed funds to the tune of Rs 4.73 billion as secured short-term investments to group firms of its promoters
The stock slipped 20% to Rs 115 in noon deal trade, falling 24% from its intra-day high of Rs 151 on BSE on back of heavy volumes.
As the Daiichi Sankyo-Ranbaxy controversy enters the last lap, the Singh brothers may be ruing their inability to run professional businesses
The directors will meet on February 28 to take up the matter, it added
Fortis Healthcare said its wholly-owned arm Fortis Hospitals had deployed funds to the tune of Rs 473 crore as secured short-term investments to group firms of its promoters
Combined m-cap of companies promoted by Singh brothers down to Rs 83 bn from Rs 206 bn on eve of Ranbaxy sale
The stock opened 2% lower at Rs 123 on BSE, bouncing back 28% to hit high of Rs 157 in intra-day trade, trading at Rs 147 at 09:48 AM.
Board of directors to discuss matter on February 13
Malvinder Singh resigns as executive chairman of Fortis Healthcare