Fortis Healthcare surges over 6% on selling Quality Healthcare to Bupa for $355mn

Shares of country's leading chain of hospitals Fortis Healthcare rallied over 6 per cent in early trade on Bombay Stock Exchange (BSE) after the company sold its Hong Kong unit Quality Healthcare to insurance major Bupa for USD 355 million (approx Rs 2,100 crore).

"Fortis Healthcare International Pte Ltd, a subsidiary of Fortis Healthcare has decided to sell its 100% stake in Altai Investments Limited, the holding company for Quality Healthcare, Hong Kong, to Bupa, for US$ 355million," Fortis Healthcare said in a filing to BSE. Buoyed by development, shares of the company gained as much as 6.61 per cent to trade at Rs 111.25 a piece on the BSE.

In a similar fashion, shares of the company advanced 4.26 per cent to Rs 109.00 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 20,730.71, up 123.17 points or 0.61 per cent at 9:55 hours.

Dion Global Solutions Ltd.

Story first published: Tuesday, October 15, 2013, 12:57 [IST]
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