Fortis Healthcare Increases FII Shareholding Limit To 74%

Fortis Healthcare informed that its shareholders have approved increasing the shareholding limit of foreign institutional investors (FIIs) to up to 74% from the current limit of 24% on Wednesday.

Fortis Healthcare was trading lower by 1.6% at Rs 164.15 per share at 1125 hours on BSE. It hit a high of Rs 170 and a low of Rs 163.50 so far during the day.

The stock has delivered marginal returns of 3% in the period of one year. It has underperformed BSE Mid-cap and BSE Healthcare over the same period. Its closest peers include Alkem Laboratories and Torrent Pharmaceuticals.

Fortis Healthcare Limited is an integrated healthcare delivery service provider. The company is engaged in establishing, maintaining, operating, running, managing or administering hospitals, medicare, healthcare, diagnostic, health aids and research centres.

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