SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD DEC 05
MCX SILVER DEC 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD DEC 05
MCX SILVER DEC 05
MCX CRUDEOIL NOV 16
MCX NATURALGAS OCT 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

Stock Market Live: Sensex off day's low; Nifty above 14,600; banks, financials drag

Asian stocks slip as global rally skids on inflation fears

Oil prices slip on surprise build in US crude stocks

Rupee tanks 67 paise to 73.10 against US dollar in early trade

Max Healthcare Institute shares end at 5% upper circuit on debut

Updated : August 21, 2020 04:02 PM IST

Soon after listing, the stock jumped 5 percent to Rs 111.75 apiece and settled at that level for the day.

Shares of Max Healthcare Institute Ltd ended at an upper circuit of 5 percent after making a strong debut on the stock exchange on Friday. The shares of the company got listed at Rs 106.45 apiece on the National Stock Exchange.

Soon after listing, the stock jumped 5 percent to Rs 111.75 apiece and settled at that level for the day.

The listing follows a merger of the healthcare assets of Max India into Max Healthcare and demerger of the residual businesses of Max India into Advaita Allied Health Services, a wholly-owned subsidiary of Max India.

Max Healthcare Institute shares were listed in the list of T Group of Securities in on the Bombay Stock Exchange. The scrip will be in Trade-for-Trade segment for 10 trading days.

"Listing of Max Healthcare Institute Ltd - Max Healthcare and Radiant merged their healthcare business to create the second largest healthcare chain in India by revenue after Apollo Hospitals. Max Healthcare will be led by Abhay Soi and backed by KKR&Co., who are well known as a global investment company," said Yash Gupta, Equity Research Associate, Angel Broking Ltd.

The revenue for the merged entity for FY2020 was Rs 4,026 crore and it will be the second-largest private hospital chain after Apollo Hospitals. Currently, Max Healthcare has 17 Facilities with a total bed capacity of 3,400 with Major facilities in the NCR region.

"Abhay Soi and KKR will be the promoters of Max Healthcare with controlling stakes of 52 percent and 23.3 percent respectively. We expect Max Healthcare to do well under the leadership of Abhay Soi and KKR,” Gupta added.

You May Also Like

KVIC's e-market portal achieves Rs 1.12 crore turnover in 8 months

KVIC's e-market portal achieves Rs 1.12 crore turnover in 8 months

Important update for passengers boarding domestic flights from Mumbai airport

Important update for passengers boarding domestic flights from Mumbai airport

Countdown begins for ISRO's first mission in 2021, Brazil's Amazonia-1 on board

Countdown begins for ISRO's first mission in 2021, Brazil's Amazonia-1 on board

Trending on CNBC-TV18

Live TV

recommended for you