Fortis Healthcare Surges Over 5% After Rekha Jhunjhunwala Buys Stake

Fortis Healthcare shares surged over 5 per cent to an intraday high of Rs 148.90 on Wednesday. Rekha Rakesh Jhunjhunwala, wife of ace investor Rakesh Jhunjhunwala, yesterday bought 45 lakh shares of Fortis Healthcare at an average price of Rs 134.65 valuing the transaction at Rs 60 crore, bulk deal data of National Stock Exchange showed.

Earlier in February 2015, Rakesh Jhunjhunwala had bought nearly 35 lakh shares of Fortis Healthcare at an average price of Rs 119.35, for over Rs 41 crore through an open market deal.

Fortis Healthcare shares have corrected nearly 15 per cent in last one month. For the quarter ending June, 2017 the company had reported a net profit of Rs 22.61 crore on revenues of Rs 1,214 crore compared to Rs 25.26 crore profit on revenues of Rs 1,154 crore in the year ago quarter.

As of 9:58 am, Fortis Healthcare shares traded 4.20 per cent higher at Rs 147.60 apiece, compared to Tuesday's close of Rs 141.65. (With agency inputs)