Fortis Healthcare share price rose 1 percent in the early trade on August 31 after the company signed definitive agreements to acquire a hospital in Haryana.
At 09:29 am Fortis Healthcare quoted Rs 335.00, up Rs 3.50, or 1.06 percent on the BSE.
The company has signed definitive agreements with Medeor Hospital Limited (MHL) and VPS Health Care Private Limited for the acquisition of a multi-speciality hospital situated in Sector-5, IMTManesar, Tehsil & District, Gurgaon, Haryana (Medeor Hospital Manesar).
The acquisition included all the structures and buildings and the movable assets present at Medeor Hospital Manesar, for a lump sum consideration of Rs 225 crore.
Medeor Hospital Manesar has a potential bed capacity of approximately 350 beds and can be operationalized in a phased manner in around 9 months.
The transaction is subject to certain governmental and regulatory approvals.
Catch all the market action on our live blog
For the April-June quarter, the company posted an 8.6 percent decline in its net profit to Rs 122.5 crore.
The share touched a 52-week high of Rs 352 and a 52-week low of Rs 245.40 on 31 July, 2023 and 24 March 2023, respectively.
Currently, the stock is trading 4.83 percent below its 52-week high and 36.51 percent above its 52-week low.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
