Fortis Healthcare shoots up to 6% after Rekha Jhunjhunwala buys shares worth Rs 60 crore

The stocks of Fortis Healthcare shoots up to 6% on the National Stock Excahange (NSE) in early trade on Wednesday morning after top notch investor Rakesh Jhunjhunwala's wife Rekha has bought 45 lakh shares of the firm worth Rs 60 crore. 

According to the NSE data, on August 22, Rekha Jhunjhunwala purchased 0.9% stake in Fortis Healthcare through bulk deal at Rs 134.65 per share. 

Rekha Jhunjhunwala bought the shares at a time when experts have asked investors of being cautious while investing in a pharmaceutical sector. 

In February 2015, Rakesh Junjhunwala had bought 34,85,075 shares of Fortis Healthcare, at Rs 119.35 apiece, for over Rs 41 crore through an open market deal. 

For the quarter ended June 30, 2017, Fortis Healthcare reported a net profit of Rs 22.61 crore against Rs 25.26 crore in the corresponding quarter last year. 

The total income stood at Rs 1,214.22 crore for the period under review. It was at Rs 1,154.15 crore in the quarter ended June 30, 2016.