Max India shares fall 5% on relisting day

Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3-billion Max Group.

Even as the broader market sentiment was bullish, shares of Max India fell 5 percent on BSE on the day of its relisting.

The stock debuted at Rs 80 on BSE but fell 5 percent soon to touch its lower price band at Rs 76 on August 28.

Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3-billion Max Group.

The new Max India is the holding company of Max Group’s senior-care business Antar and the skilling company Max Skill First.

The relisting of Max India follows Max Healthcare’s listing last week. In a media release, the company said listings are the outcome of a comprehensive scheme announced last year that involved a series of transactions, including the demerger of KKR-backed Radiant Lifecare’s assets into Max Healthcare, which resulted in the listing of merged Max Healthcare.

Comments

Tata Realty looks to list 20 million sq ft of commercial assets as REIT

The existing land bank has potential of 20 million sq. ft commercial development in the next three to four years, says CEO Sanjay Dutt Tata Realty and Infrastructure (TRIL) is planning to list its Real Estate Investment Trust (REIT) with a portfolio of 20 million sq ft of commercial assets in the next few years. This will be done after the portfolio is expanded from present 6.2 million sq ft to 20 million sq ft via new developments and acquisitions. Sanjay Dutt, managing director and chief executive officer of TRIL told The Economic Times that the existing land bank has potential of 20 million sq ft commercial development in the next three to four years. The portfolio may also include office spaces and data centre assets. He added that his team has looked at least four proposals from developers looking to monetise their portfolios including single assets and carved-out portfolios across the country. “We are targeting a 45-50 million sq ft in commercial portf...

Brokerages place bets on Titan, see double-digit upside in the stock

Titan can get benefits from the strong market share in the jewellery and wrist watches segment, mainly driven by a wide range of product portfolio catering mainly to the premium and value-added designer jewellery segment. After three consecutive sessions of losses, shares of Titan Company rose over a percent in morning trade on BSE on September 23. The company was dealt a severe blow by COVID-19 as the pandemic triggered strict lockdowns completely battered the retail sector. In the calendar year so far, shares of this one of the largest, most efficient and profitable specialty retailer in India are 7 percent down. The company reported a net standalone loss of Rs 270 crore for the quarter ended June 2020 as the COVID-19 pandemic hit business. The loss was higher than a CNBC-TV18 poll estimate of Rs 175 crore. Standalone revenue during the quarter declined 62.3 percent year-on-year to Rs 1,862 crore compared to the corresponding period last fiscal. Light at the end ...

SD Solutions

Search This Blog