Fortis Healthcare Promoter Holding Falls To 5.87%Â
Promoter and promoter group holdings in Fortis Healthcare Ltd. have come down to 5.87 percent from 8.85 percent, following invocation of pledged shares, the healthcare chain said.
In a regulatory filing, Fortis Healthcare said that nearly 1.54 crore pledged shares of the company, accounting for 2.98 percent stake, have been invoked on Feb. 17.
Subsequently, the stake of promoter firm Fortis Healthcare Holdings along with promoters Malvinder Mohan Singh and Shivinder Mohan Singh and other family entities have come down to 5.87 percent from 8.85 percent earlier, the filing added.
Last week, the Supreme Court allowed financial institutions, with whom shares of Fortis Healthcare have been pledged, to sell such shares.
Also Read: Singhs Said to Have Taken $78 Million From Fortis Healthcare
On Feb. 15, a bench of Justices Ranjan Gogoi and R Banumathi had clarified its earlier status quo order and said that the shares of Fortis Healthcare encumbered by Fortis Healthcare Holding Pvt. with the financial institutions can be sold, traded or transferred.
Earlier, the apex court had restrained financial institutions, including Axis Bank Ltd. and Yes Bank Ltd., from selling the shares pledged by the former Ranbaxy promoters and ordered them to maintain status quo with regard to both encumbered and unencumbered shares.
Also Read: Why Fortis Remains An Attractive Bet Despite Founders' Troubles
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
