Buzzing stock: Fortis Healthcare gains after Rekha Jhunjhunwala makes bulk purchase
DSIJ Intelligence / 23 Aug 2017
Ace investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala has bought 45 lakh shares of Fortis Healthcare through an open market transaction on Tuesday.
Ace investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala has bought 45 lakh shares of Fortis Healthcare through an open market transaction on Tuesday. The shares were bought at an average price of Rs 134.65 per share, with value of Rs 60.59 crore. The information regarding this bulk deal is available on the NSE.
Earlier, in February 2015, Rakesh Jhunjhunwala had purchased 34,85,075 shares of Fortis Healthcare at average price of Rs 119.35 per share for over Rs 41 crore.
On Tuesday, the stock of the company dipped to intra-day low of Rs 126.2 after its promoters created a pledge on 25.5 lakh shares. It closed at a price of Rs 141.65. Investors were doubtful regarding the debt issues of the company.
Post this bulk deal, the stock opened today at Rs 149 and touched intra-day high of Rs 151.90, showing an upside of 7.2 percent from its previous closing price.
The stock had made a fresh 52-week high on May 2, 2017 at Rs 230.90. However, the scrip declined drastically on the back of negative news on the policy front. Investors were doubtful regarding the company’s financial prospects.
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