Fortis Sells Singapore Diagnostics Unit

Mukesh Buch
15 Sep, 2014
New York City

Autoline sells its U.S. subsidiary for $9 million. Fortis Healthcare sells its Singapore-based diagnostics unit for S$137 million. RIL raised its stake in Reliance Jio to about 99%. RPP Infra won new order worth Rs 55.20 crore in Uttar Pradesh.

[R]6:00 PM Mumbai – Autoline sells its U.S. subsidiary for $9 million. Fortis Healthcare sells its Singapore-based diagnostics unit for S$137 million. RIL raised its stake in Reliance Jio to about 99%. RPP Infra won new order worth Rs 55.20 crore in Uttar Pradesh.[/R]

The Sensex Index declined 244.48 or 0.9% to close at 26,816.56 The CNX Nifty dropped 63.50 to 8,042.

Gainers & Losers

Autoline Industries Ltd climbed 3.6% to Rs 107.80 after the auto parts maker agreed to sell the U.S.-based subsidiary for $8.5 million to an undisclosed buyer.

Fortis Healthcare Ltd soared 6.7% to Rs 130 after the healthcare provider sold its Singapore-based diagnostics unit for S$137 million or Rs 660 crore.

K.S. Oils Limited jumped 3.3% to Rs 2.17 and the company inched closer to selling its edible oil business and wind power assets.

Reliance Industries Limited dropped 1.3% to Rs 1,002.85 and the company raised its stake in Reliance Jio to 99% ahead of the launch of mobile phone services.

RPP Infra Projects Ltd surged 7.5% to Rs 92 after the company won a new order for rural electrification work worth Rs 55.20 crore in Uttar Pradesh.

Tata Steel Limited slipped 1.8% to Rs 507.55 after the company expected first unit start its operations of 55,000 tons per year ferrochrome plant in Odisha by March 2015.

The steel producer invested approximately Rs 800 crore or $132 million.