Fortis Global Healthcare Holdings on Wednesday said it will acquire 30 per cent stake in Australia's Dental Corporation for about AUD 100 millions (about Rs 450 crore).
Global index provider MSCI has announced the addition of four Indian companies-including Fortis Healthcare and Paytm - to its Global Standard indices. According to Nuvama Alternative & Quantitative Research, each of these companies is expected to see passive inflows exceeding $400 million. Shares of Paytm rose 4.3 per cent on Thursday, while Fortis Healthcare dipped 1.1 per cent.
Vishal Bali, the CEO of Fortis Hospitals, has relinquished his post to take charge as head of Fortis Global Healthcare (FGL) in Singapore, Bhavdeep Singh, the CEO of listed entity Fortis Healthcare Ltd, is resigning from his post on personal reasons. A company spokesperson said the developments were not related.
Fortis Global Healthcare on Thursday said it has acquired a specialised under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of SGD 33 million (over Rs 115 crore).
While Q2FY26 is expected to be mildly disappointing for the hospital sector, there's a lot of investor optimism for the future. This comes after a favourable revision in rates for Central Government Health Scheme (CGHS) procedures, as well as expectations of rising occupancy and growth in average revenue per operating bed (ARPOB).
'Defence, capital goods, engineering, capital market-related stocks, autos, and cement sectors are my bullish bets for Samvat 2082.'
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
In a statement, Fortis said under the accepted offer, IHH would infuse Rs 4,000 crore through subscription to the preferential allotment at a price of Rs 170 per share. The Malaysian firm will then make a mandatory open offer to public shareholders for 26 per cent of the outstanding shares post issuance.
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
30% of Indian employees report experiencing daily stress in their workplace. This high stress level is compounded by anger, with 34% of Indian employees experiencing daily anger at work -- a figure significantly higher than many other countries.
Fortis International has made seven acquisitions in 10 markets.
'Every hospital now tracks length of stay closely.' 'More efficiency is brought into the system now.'
The burgeoning Indian market, if handled smartly, offers a challenging opportunity for value creation.
Private hospital chains Fortis Healthcare and Apollo Hospitals have started administering Russian COVID-19 vaccine Sputnik V at two of their hospitals in Delhi-NCR, officials said.
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
'This year there is a sharp spike in fever cases, and it seems to be more than the pre-COVID-19 levels.'
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Singh said they will focus on Fortis Healthcare and Religare Financial Services after the acquisition.
Suggesting that a relatively young Indian population may be one of the reasons for the low mortality rate due to the pandemic, experts have attributed the high number of fatalities in countries like Italy and Spain to their elderly population which are more susceptible to developing complications after contracting the infection.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Experts feel the figures are modest for a count of the size of 1.3 billion and "much more number of tests" are needed to combat COVID-19 outbreak in the country.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
There were more than three losers against every gainer on BSE
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
Exercise can help cut depression, schizophrenia symptoms.
'Lifting of lockdown should be very gradual. Some facilities should remain closed through the month of May like schools, colleges, malls, cinema halls, religious places and markets'
The survey, commissioned by HSBC last year, covered 16,000 people.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
The most commonly asked questions relate to symptoms and prevention -- 'Will summer kill the coronavirus?', 'Should outside food and non-veg food be avoided?', 'Does smoking affect chances of recovery?', 'Are face masks useful?', 'Are hand sanitisers better than soap?', 'Are elders in my family more susceptible?'
'During the course of these two years, as new people have joined, we have no mental picture to associate with them and hence, have little connection with them.'
Both the indices ended at their highest levels since February 1.
Beside the defence forces in India, the start-up has shipped around 350,000 units to 12 countries -- the United Kingdom, France, Poland, Bangladesh, Saudi Arabia, the UAE, Kenya, South Africa, Romania, Indonesia, Qatar and Oman.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
We need to create collaborative and/or disruptive platforms like Uber and Airbnb in all sectors to ensure responsive and responsible inclusive growth, says C P Gurnani.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
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