Fortis Healthcare approves raising funds upto Rs 1250 crores

Fortis Healthcare Ltd has announced that the Board of Directors of the Company at its meeting held on February 10, 2010, inter-alia, has approved (subject to necessary approvals) the raising of funds from domestic / international markets through issue of Equity Shares / Preference Shares / GDRs / ADRs / FCDs / PCDs / CDs / FCCBs / FCEBs and/or other securities aggregating upto Rs. 1250 Crores to meet its funding requirements for addressing various growth opportunities, from time to time.

Further, the Board of Directors had also decided to seek approval of the Shareholders on the above said matter and matters relating thereto, by way of Postal Ballot.

The stock closed the day at Rs.143.60, down by Rs.0.15 or 0.10%. The stock hit an intraday high of Rs.146.80 and low of Rs.143.05.

The total traded quantity was 184546 compared to 2 week average of 342532.

Source : Equity Bulls

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