According to reports, Fortis Healthcare is likely to strike a deal to get hold of 74% equity stake in unlisted Wockhardt Hospitals for about Rs 7.5 billion.

If the deal get finalizes, Fortis will have to invest Rs 4 billion during the initial phase to acquire a 40% equity stake, which will be raised later.

But, a formal agreement is yet to be sealed, with both companies in the process of ironing out differences, which include the issue of branding the hospital chain, the report added.

The report also said that a representative from Wockhardt declined to comment while a Fortis spokesperson said, “We are in the market. We cannot comment on market speculation or any individual deals.”

At 10:10 a.m., shares of Fortis Healthcare stood at Rs 69, up 4.55% at the Bombay Stock Exchange (BSE).

The scrip has touched an intra-day high of Rs 73 and low of Rs 68.25. The total volume of shares traded at the BSE stood at 147,167. The share price has seen a 52-week high of Rs 91.80 and a low of Rs 45 on BSE.

The shares declined 0.3% to Rs 66 during the earlier session.

At present, the stock is trading down 24.84% from its 52-week high of Rs 91.80 and above 53.33% over the 52-week low of Rs 45.