Healthcare

Rakesh Jhunjhunwala increases exposure in this healthcare stock

Updated : January 22, 2020 06:25 AM IST

Besides Jhunjhunwala, domestic fund managers and overseas investors have also increased their stake in the hospital chain.

YES Bank and Axis Bank brought down their holding in the company.

Mutual funds increased shareholding to 4.99 percent in the company by December-end from 3.69 percent during the preceding quarter ended September 30.

Ace investor Rakesh Jhunjhunwala has increased his exposure in Fortis Healthcare, according to the data available in public domain. His holding in the company went up from 1.6 crore shares in September to little over 2 crore by the end of December.

Besides Jhunjhunwala, domestic fund managers and overseas investors have also increased their stakes in the hospital chain, according to the BSE filing.

However, YES Bank and Axis Bank brought down their holding in the company.

Mutual funds increased shareholding to 4.99 percent in the company by December-end from 3.69 percent during the preceding quarter ended September 30.

Nippon India Retirement Fund owned 3.31 percent stake or 2,49,96,750 shares in the company. ICICI Prudential Equity and Debt Fund held 1.16 percent or 87,57,813 shares.

Institutional and portfolio investors surged to 43.24 percent shares. At the end of the September quarter, these investors held 38.69 percent shares in the company.

Number of FPIs invested in the company has also gone up to 193 at the end of the third quarter from 163 September.

Fortis Healthcare share ended nearly 2 percent up at Rs 146.10 on the BSE. In the past one year, healthcare and pharma sectors have not perform well. Fortis Healthcare’s performance too has not been impressive on the bourses.

The stock moved up a bit recently after some brokerages, including Citi, turned bullish on the company.

Rakesh Jhunjhunwala increases exposure in this healthcare stock

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