The Supreme Court had last week ordered a forensic audit of the share sale of Fortis Healthcare to IHH Healthcare executed in 2018, in a contempt case filed by Japanese firm Daiichi Sankyo Company Ltd against the former promoters of Fortis, Singh brothers -- Malvinder and Shivinder, and others.
The former promoters of Fortis Healthcare Ltd were facing a court battle after Daiichi had challenged the Fortis-IHH share deal to recover the Rs 3,600 crore arbitration award.
The potential penalty by India’s fair trade regulator could be steep. The CCI investigation is the first such action against exorbitant prices of medicines and services fixed by hospitals, which have operated free of regulation so far.
The verdict further delays the takeover of the embattled hospital chain Fortis Healthcare by Malaysia’s IHH, which has already been pending for over three years.
In January this year, Fortis had announced that Envesecure filed a suit against it and various others for alleged "copyright infringement and tortious interference with contracts", seeking damages in excess of USD 6.5 billion.
Large private hospital chains have sought ease in securing visas and suggested that a welcome desk be set up at international airports in a separate lounge where arriving patients can rest
Prabhudas Lilladher is bullish on Fortis Healthcare has recommended buy rating on the stock with a target price of Rs 330 in its research report dated August 09, 2022.
Net Sales are expected to increase by 3 percent Y-o-Y (up 5.4 percent Q-o-Q) to Rs 1,452.3 crore, according to Prabhudas Lilladher.
Dr Kumar said patients should look at the bundled service costs and not prices of medicines or devices.
Competition Commission of India (CCI) has demanded answers from Max Healthcare, Fortis Healthcare and Apollo Hospitals on how they fix prices of medicines and medical devices. Action could rein in soaring drug prices in India.
Shivinder Mohan Singh is currently facing charges in a money laundering case related to alleged misappropriation of funds at Religare Finvest Limited (RFL).
After a continuous fall in Ambuja Cements, prices have found support near its 200-week exponential moving average and in terms of candle stick counter has formed a Bullish Hammer pattern on the weekly time frame.
Until the decisive breakout is not seen on the Nifty, one should expect a rangebound movement and focus on stock-specific action, Sameet Chavan of Angel One advised
Here's what Rajesh Palviya of Axis Securities, recommends investors should do with these stocks when the market resumes trading today.
Traders should keep stock specific action on radar, as volatility is likely to grip markets in the coming week once again.
The top court, which wanted to remand the case to the Delhi High Court for re-adjudication on October 25, kept it for hearing before itself after the Economic Offence Wing of Delhi Police referred to the gravity of the offence.
Shareholders of Zee have called in for a special meeting seeking removal of MD Punit Goenka along with two other directors from the board. This isn’t the first time when shareholders of a certain company have shown exit door to the promoters. Watch the video to find out about such companies.
The share price has risen more than 90 percent in the last year
The growth strategy at KIMS is based on volume play driven by hinterland opportunities
The brokerage firm has a buy on the stock on dips around Rs 199-200 with a target price of Rs 271, an upside of 15 percent from the current level.