New Delhi: Markets gave up early gains to end slightly lower on Tuesday. The BSE Sensex fell 63.29 points or 0.21 percent to 30,609.30 while the NSE Nifty dropped 10.20 points or 0.11 percent to 9,029.05.
Here are the major stocks in Focus on May 27, 2020
Kotak Mahindra Bank
The Private sector lender on Tuesday launched its over Rs 7,000-crore qualified institutional placement (QIP) of shares. The bank’s board approved a floor price of Rs 1,147.75 per share for the sale as against Tuesday’s close of Rs 1,152.45 apiece as per the laid out formula, according to regulatory filings.
Promoter firm Bharti Telecom has sold 2.75 per cent stake in Airtel to institutional investors in the secondary market, raising over Rs 8,433 crore, the company said on Tuesday. The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a ‘debt free company’, it said.
The company said aftermath of Covid-19 has impacted its business. It said that it has opened around 43% of its stores across all businesses till date.
Max Financial Services
The company on Tuesday reported a steep 96 per cent plunge in consolidated profit after tax to Rs 6.67 crore for the January-March quarter 2020 due to the impact of a tax dispute settlement and the coronavirus pandemic. The company had registered a profit after tax of Rs 199.91 crore during the January-March quarter of the previous fiscal year.