Fortis Healthcare redeems Preference Shares

Fortis Healthcare Ltd has announced that the Committee of Directors of the Company, at its meeting held on November 26, 2009, has approved the redemption of 2,60,000 Preference Shares of Rs. 10 each, held by its promoters - M/s. Fortis Healthcare Holdings Ltd.

The redemption has been done out of the proceeds of recently concluded Rights Issue of Equity Shares of the Company, in terms of objects of the Rights Issue.

The stock closed the day at Rs.106.60, down by Rs.0.95 or 0.88%. The stock hit an intraday high of Rs.109.35 and low of Rs.105.80.

The total traded quantity was 48197 compared to 2 week average of 120797.

Source : Equity Bulls

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