Fortis Health Care Ltd Looks Promising

Fortis Health care Ltd looks promising at current price of Rs 101.60, this script has a potential to reach Rs 160.00 in couple months. Keep a Stop loss at Rs 89.00

Hospital chain Fortis Healthcare on Tuesday said that the acquisition of ten hospitals from rival Wockhardt Hospitals for Rs 909 crore announced recently, will be completed by December and will start contributing to the financials from the next quarter.

Fortis` net profit grew 23% to Rs 13 crore for the second quarter ended September over the year ago period, driven by higher revenues from its larger hospitals. The company`s revenues rose 21% to Rs 1,905 crore from Rs 1,580 crore in the corresponding quarter last fiscal.

Various initiatives and new medical programs launched by the company will provide better results in the coming quarters, Fortis said in a statement

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