Indian financial markets are still reeling from this week's global equities carnage, with investors losing nearly Rs 2.24 lakh crore in the first hour of trading on Friday.
The benchmark Sensex plunged over 500 points or 1.5 percent to trade at 33,892 while India's volatility index or VIX, seen by many as a key barometer of investment sentiment, jumped 13 percent.
But the recent market slump failed to curb investors' risk appetite for Fortis Healthcare stock, which jumped as much as 25 percent to Rs 157 in morning trades.
Shares of the hospital chain operator got a boost after company's promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, resigned from their posts on Thursday.
The resignation comes following the Delhi high court order upheld the Rs3,500 crore arbitral award in favour of Japanese drugmaker Daiichi Sankyo.
The Singh brothers were accused of concealing information from the U.S. drug authority of Ranbaxy, when Daiichi bought their stake for $2.4 billion in 2008. The total deal value was $4.6 billion.
A Singapore tribunal had upheld the plea of Daiichi. Later Daiichi approached the Delhi High Court in 2016 to seek the enforcement of the tribunal award.
