Ajay Piramal, chairman of Piramal Healthcare Ltd., has dropped plans to sell his 85 percent stake in property fund Indiareit Fund Advisors Pvt. as he plans to invest the corpus in his real-estate business, the Economic Times reported, citing at least three people familiar with the development, which it didn’t identify.
Fortis Healthcare Ltd. , India’s second-biggest hospital operator, offered about S$3.2 billion ($2.3 billion) for the rest of Singapore’s Parkway Holdings Ltd. , topping a partial bid by Malaysia’s sovereign wealth fund.
India’s Bombay Stock Exchange Sensitive Index, or Sensex , fell 62.33, or 0.3 percent, to 20,498.72 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.