Fortis Healthcare soars on launching two new hospitals

18 Nov 2011 Evaluate

Fortis Healthcare is currently trading at Rs. 118.35, up by 1.40 points or 1.20% from its previous closing of Rs. 116.95 on the BSE.

The scrip opened at Rs. 116.00 and has touched a high and low of Rs. 119.00 and Rs. 114.90 respectively. So far 28818 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.50 on 27-Jul-2011 and a 52 week low of Rs. 114.90 on 18-Nov-2011.

Last one week high and low of the scrip stood at Rs. 130.65 and Rs. 114.90 respectively. The current market cap of the company is Rs. 4738.36 crore.

The promoters holding in the company stood at 81.49% while Institutions and Non-Institutions held 9.29% and 9.23% respectively.

Fortis Healthcare (India), continuing its aggressive growth in India, has launched two hospitals, one in Hyderabad and other in Agra. With launch of these two new hospitals, Fortis Healthcare has increased its India network to 68 hospitals.

The super-speciality hospital in Hyderabad with a 150-bed capacity will be functional in FY 2013 and is the second project from the company in the city, the first being a tertiary care hospital with a 450- bed capacity, which is expected to be operational end 2013.

The hospital in Agra will initially function as a cardiac care centre, in a hub and spoke model, and expand eventually to become a multi-speciality hospital. The 75-bed hospital will be operational by the end FY2012.

These two new projects are in line with Fortis Healthcare’s commitment to increasing the network and making quality healthcare accessible across the country. The company is currently present in 17 Indian states and will continue to expand to newer geographies, while strengthening its presence and increasing bed-capacity in existing cities and states.

Fortis Healthcare Share Price

677.20 -0.80 (-0.12%)
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