Fortis signs deal to run 400 plus bed hospital in Delhi via subsidiary

Business Updates View source PDF Explain this filing

FORTIS · price

Loading chart…

▲ 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

—————

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 Hospotel Limited (wholly owned subsidiary) signed definitive agreements with Seth Sunder Lal Jain Charitable Eye Hospital Society to provide healthcare services at a 400 plus bed super specialty hospital in Ashok Vihar, New Delhi. Under a 29 year exclusive Healthcare Services Agreement, FHTL gets a percentage of hospital revenue as service fee and will also lend up to INR 567 crores in tranches over 3 to 4 years. Hospital expected to commence operations in 3 to 4 years, taking Fortis services to over 3,400 beds across Delhi NCR.

Likely market impact

Positive: long term revenue stream from Delhi NCR expansion to 3,400 plus beds, though 567 cr loan exposure adds leverage risk.