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MARKET EYE-India's Fortis Healthcare surges on sale of Hong Kong unit

* Shares in India's Fortis Healthcare Ltd surge as

much as 6.6 percent after the company said it would divest its

stake in Quality Healthcare Medical Services in Hong Kong to

Bupa for $355 million by October end.

* "Fortis (Other OTC: FRTSF - news) has to get rid of certain things to bring its debt

burden down. This is a step in the same direction," said an

analyst tracking the sector at a domestic brokerage house.

* The company's debt/equity ratio stood at 1.4 times for 2013

compared with the median of 0.28 for the industry, Thomson

Reuters data shows.

* Fortis shares are up 4.5 percent compared with a 0.7 percent

rise in the NSE index. Earlier, they hit a high of 111.40

rupees.

(abhishek.vishnoi@thomsonreuters.com /;

abhishek.vishnoi.thomsonreuters.com@reuters.net)