Fortis Healthcare shares down nearly 9 per cent after Singh brothers held guilty

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Published: November 15, 2019 7:00:21 PM

The stock lost 7.94 per cent to settle at Rs 143.70 on the BSE. Intra-day, the stock shed 17.37 per cent to touch a low of Rs 129.

Fortis Healthcare shares, Malvinder Singh, Shivinder Singh, ex Ranbaxy promoters, BSE, Fortis Healthcare Ltd, Fortis Group The stock lost 7.94 per cent to settle at Rs 143.70 on the BSE.

Shares of Fortis Healthcare on Friday plummeted nearly 9 per cent after the Supreme Court held former Ranbaxy promoters Malvinder and Shivinder Singh guilty of contempt. The stock lost 7.94 per cent to settle at Rs 143.70 on the BSE. Intra-day, the stock shed 17.37 per cent to touch a low of Rs 129. On the NSE, it lost 17.4 per cent to Rs 129. However, it managed to pare early loses to settle at Rs 142.40, down 8.83 per cent.

The Supreme Court on Friday held former Ranbaxy promoters Malvinder and Shivinder Singh guilty of contempt for violating its order that had asked them not to divest their shares in Fortis Healthcare Ltd. The apex court held them guilty of contempt of court and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to Malayasian firm IHH Healthcare was put on hold.

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