May 2, 2018 / 5:46 AM / 22 days ago

BUZZ-India's Fortis Healthcare hits over 1-1/2-month high; bidding war hots up

** Fortis Healthcare Ltd rises as much as 5.3 pct to 160.50 rupees, its highest since March 16

** Two of the five suitors raised their bids to invest in the cash-strapped co

** Malaysia’s IHH Healthcare Bhd lifted its offer by 9.4 pct to 175 rupees a share

** Hero-Burman group raises offer to invest in co to 18 bln rupees ($269.7 mln) from 15 bln rupees, via share and warrant subscription

** “Most likely Manipal (Healthcare Enterprises) will also raise their bid. I feel it is the beginning of the bidding battle,” an analyst with a domestic brokerage said, adding that Fortis stock has been placed under review

** Stock posts biggest intraday pct gain in nearly a month; down 5 pct this year as of April 30

** Nine of 10 brokerages rate the stock “buy” or higher, 1 “hold”; their median PT is 180 rupees - Thomson Reuters data ($1 = 66.7525 Indian rupees)

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