FORTIS breaks out on Khajanah offer

Fortis Healthcare rose as much as 4.6 percent on Monday, after sources told Reuters Malaysian state investor Khazanah was poised to offer to buy all outstanding shares of Singapore's Parkway Holdings, bettering Fortis' offer.

Fortis is likely to tender entire shareholding in Khazanah offer, reports CNBC-TV18 quoting sources.
Fortis Healthcare, a hospital chain promoted by former Ranbaxy owners Malvinder Mohan Singh and Shivinder, holds nearly 25% stake in Parkway. The average price of acquisition was USD 3.56 per share for Fortis. The healthcare major is likely to make over USD 100 million profit post tendering. http://www.moneycontrol.com/news/business/fortis-may-back-outparkway-bid-sources-_472255.html

IF FORTIS makes this $100mn gain its profits would be very high, whole year FY10 their profits were Rs 30Cr only and Revenue Rs 209Cr

The stock has broken out and looks good for 7-9% rally from current levels, CMP Rs 159