Fortis Healthcare shares rise after brokerage upgrade tied to Bengaluru acquisition

Fortis Healthcare shares advanced over 2 percent after JM Financial upgraded the stock to ‘Buy’, citing valuation comfort and growth potential from its recent Bengaluru expansion. The brokerage set a target price of ₹1,093, implying an upside of about 22.7 percent from the previous close. Fortis has entered definitive agreements to acquire TMI Healthcare, owner of the 125 bed People Tree Hospital in Yeshwanthpur, Bengaluru, for roughly ₹430 crore including debt.