Fortis Healthcare promoters not allowed to sell pledged shares
DSIJ Intelligence / 31 Aug 2017
With the Supreme Court (SC) refusing any relief to the company’s promoters and their banks who are trying to sell some of the pledged promoter holdings, the stock of Fortis Healthcare was in trouble during Thursday’s trading session.
With the Supreme Court (SC) refusing any relief to the company’s promoters and their banks who are trying to sell some of the pledged promoter holdings, the stock of Fortis Healthcare was in trouble during Thursday’s trading session. It nose-dived by over 5% on the BSE.
The apex court, maintaining the status quo, clarified that the promoters cannot sell both encumbered and non-encumbered assets. The court also refused permission to banks seeking to sell the pledged shares, as reported by a leading business daily.
Fortis Healthcare was trading at Rs 148 per share, down by Rs 6.30 or 4.08% as at 1212 hours on Thursday, on the BSE. The stock hit an intraday high and low of Rs 156.95 and Rs 145.35, respectively.
It attracted a traded volume of 1,20,07,798 shares and traded value of Rs 17,996.09 lakhs on the NSE. The company had hit its 52-week high of Rs 228.95 on May 3, 2017 and 52-week low of Rs 125.55 on August 22, 2017, on the NSE.
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