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Fortis's 15-min chart sees MACD Death Cross, Bollinger Bands Narrowing
ByAinvest
Wednesday, Sep 3, 2025 1:20 pm ET1min read
Fortis's 15-minute chart has triggered a MACD Death Cross and Bollinger Bands Narrowing at 09/03/2025 13:15, indicating a potential continuation of the downward trend in stock price, with diminishing volatility in the magnitude of fluctuations.
Fortis Healthcare Ltd's shares surged by 1.5% on September 2, 2025, reaching a day's high of Rs 939.70, following the announcement of a 15-year lease agreement between its wholly-owned subsidiary, International Hospitality Ltd, and RR Lifesciences Ltd. The lease concerns a 200-bed fully operational multi-specialty hospital in Greater Noida [1].Under the new lease, Fortis will assume full operational and financial control of the hospital, integrating it into its network. The hospital, which was previously managed under an operation and maintenance (O&M) deal since October 2002, will now be officially known as Fortis Hospital Greater Noida [2].
Built on 1.35 acres of UPSIDA-leased land, the hospital features a 2.7 lakh sq. ft. built-up area and has the potential to expand from 200 to 250 beds in the future. Strategically located 34 km from the upcoming Jewar International Airport, the hospital is well-connected through major expressways and the Metro (Aqua line) [1].
Fortis Healthcare's Managing Director and CEO, Ashutosh Raghuvanshi, emphasized that the company's focus will remain on providing high-quality, ethical, and patient-centric care while exploring growth opportunities [1].
At 11:22 AM, Fortis Healthcare shares were trading 1.37% higher at Rs 937.35 on the National Stock Exchange (NSE). The stock touched an intraday high of Rs 940 and a low of Rs 920.60 [2].
The 15-minute chart of Fortis's stock triggered a MACD Death Cross and Bollinger Bands Narrowing at 09/03/2025 13:15, indicating a potential continuation of the downward trend in stock price with diminishing volatility [3].
References:
[1] https://www.equitypandit.com/fortis-healthcare-shares-rise-1-5-after-15-year-hospital-lease-deal/
[2] https://www.indiainfoline.com/news/companies/fortis-healthcare-unit-inks-15-year-pact-with-rr-lifesciences
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