India's Fortis craters as top court orders forensic audit of IHH deal
22/09/2022 07:54
** Shares of Fortis Healthcare FOHE.NS fall as much as
19.6% to 250.35 rupees, erasing slim YTD gains
** Drop marks stock's sharpest intraday pct loss since Jan.
2008
** India's Supreme Court has ordered a forensic audit into
Fortis' share sale to Malaysia's IHH Healthcare, according to
media reports (https://bityl.co/EdWo)
** Supreme Court says Delhi High Court will decide on open
offer proposed by IHH - reports
** More than 30 mln FOHE shares traded by 0645 GMT, 17.6x
30-day avg of 1.7 mln shares
** FOHE last down ~17% YTD and more than erasing their YTD
gain of 4.7%
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))