Mumbai: Shares of Fortis Healthcare Ltd and Religare Enterprises Ltd on Monday slumped as concern rose over the debt levels of these firms, after India Ratings and Research downgraded RHC Holding Pvt. RHC Holding, along with Oscar Investments Ltd, jointly owns financial services firm Religare Enterprises Ltd and healthcare provider Fortis Healthcare Ltd.More From Livemint »In intra-day trade, Religare Enterprises fell as much as 8.5% to Rs112.95, while Fortis Healthcare fell 11.4% to Rs154.60. The ratings agency also put three Religare group firms—Religare Enterprises Ltd, Religare Finvest Ltd and Religare Housing Development Finance Corp. Ltd—on a negative rating watch list. As of March 2017, Religare Enterprises has total consolidated debt of Rs11,075.25 crore, while Fortis Healthcare has a debt of Rs1,961.30 crore. On 13 July, Mint reported that RHC Holdings has approached lenders for urgent funds to meet repayment obligations of financial services firm Religare Enterprises.

Source: Mint July 17, 2017 05:26 UTC