Markets

Fortis Malar up on bulk deal

| Updated on: Mar 15, 2011

Fortis Malar Hospital Ltd closed 6.6 per cent higher (Rs 32.95) today on the BSE as promoter-entities engaged in a bulk deal.

International Hospitals Ltd, which owned 50.02 per cent of Malar, bought 24 lakh shares through the market from Oscar Investments Ltd. International's holding now is 63.20 per cent.

International Hospitals and Oscar Investments are part of the Ranbaxy group.

Fortis Malar, which was taken over by the Ranbaxy group in September 2007, has performed better in the current year. In the first nine months, the company reported a turnover of Rs 61 crore and net profit of Rs 3.40 crore, compared with Rs 64 crore and Rs 3.50 crore for 2009-10.

Published on March 15, 2011

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