
Why fortis healthcare is going down, i am holding 500 @ 118. There is news that The IPO of Fortis healthcare has been declared Illegal by Court.Can you please suggest shall i wait or book losses?

Why fortis healthcare is going down, i am holding 500 @ 118. There is news that The IPO of Fortis healthcare has been declared Illegal by Court.Can you please suggest shall i wait or book losses?
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It depends on you are an investor or a trader. What is time horizon.Study says that 80% don't know that how long they want to keep a stock. But I want to stimulate your thinking here.
Do you think
- India will continue to have big population.
- people will get sick and they will need quality hospital.
- Middle class Indians want quality hospital care even if it cost more.
If you are answer is yes than I want you to do a little day dreaming and imaging that 3-5 years from now how a hospital company like Fortis will be. Yes my dear it needs little vision and extra thinking. Reliance was trading at Rs 150 12 years ago and than it dropped to Rs 100 ultimately to rise to Rs 8000 ( split adjusted ) today.
I think Fortis management is aggressive , they want to expand quick and this is visible from their acquisition. Stock is expensive when you compared it to Apollo, but it has good return potential in 5 years. I think they are on good strategy because it takes some time and prestige to build a good hospital and than getting all good doctor staff. They acquired Wockhard and evrything was right there.
Legal issue the only thing that's causing some of the big names like mutual fund to stay away from this stocks.
Finally ..sell it if you are here for day trading or keep it if you are there for long haul.