Fortis signs deal to provide services at 400+ bed Delhi hospital

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FORTIS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+2.3%Reaction day

₹870.30

prior close

₹877.00

announcement price

After-mkt

timing

Nifty Midcap 150market+0.9%+1.4% vs market

Hospital peers, median of 27sector+0.7%+1.5% vs sector

On the reaction day the stock moved 1.4 pts more than Nifty Midcap 150 and 1.5 pts more than its Hospital peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.6

10m

+0.6

15m

+0.8

30m

+1.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.3+0.9+1.4+0.7+1.5

Next day

+2.3+2.4-0.1+1.4+0.9

+2.9+2.0+0.9+2.2+0.7

+2.9+1.9+1.0+1.3+1.5

+2.7+2.5+0.2+2.3+0.5

+0.8+0.5+0.4+2.0-1.2

-4.5-1.3-3.2+0.1-4.6

15d

-9.7-3.4-6.2-7.0-2.7

-15.2-3.9-11.3-9.7-5.6

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UpDownMarket · Nifty Midcap 150Sector · Hospital peers, median of 27Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Fortis subsidiary Fortis Hospotel Ltd signed a 29-year Healthcare Services Agreement with SLJ Society to run healthcare services at a 400+ bed super specialty hospital in Ashok Vihar, Delhi. Fortis gets exclusive rights to provide services for a fee (percentage of hospital revenue) and will lend up to Rs 567 crore to SLJ Society in tranches over 3-4 years. Hospital expected to start in 3-4 years, taking Fortis Delhi-NCR beds past 3,400. Not a related party transaction.

Likely market impact

Positive expansion into underserved Delhi market with long-term revenue stream, but ties up Rs 567 crore as a phased loan over 3-4 years.