Shares of Engineers India, Max Healthcare, Welspun Corp, and Central Bank of India experienced significant declines on Friday, May 22, 2026, with some falling as much as 10%. The sharp downturns were primarily attributed to disappointing fourth-quarter earnings reports and, in the case of Central Bank of India, the announcement of a discounted offer for sale (OFS) floor price.
Central Bank of India Faces OFS Discount
Central Bank of India saw its shares tank 6% to Rs 31.85 in early trading. This drop followed the government's decision to set the floor price for its two-day offer for sale at Rs 31 per share. This floor price represents an 8.66% discount compared to the bank's closing price of Rs 33.94 on Thursday. Non-retail investors were slated to bid on Friday, with retail investors and eligible employees able to place bids on Monday. The public sector bank's stock has now slipped 15.13% in 2026 and 13% over the past year.
Engineers India: Profit Plunge
Engineers India shares slumped 10%, closing at Rs 213.45, down from Rs 237.10 in the previous session. The civil construction firm's market capitalization fell to Rs 12,581 crore. This substantial decline came after the company reported a 30.12% fall in net profit for the March 2026 quarter, reaching Rs 195.53 crore compared to Rs 279.81 crore in the same period last year. Sales also suffered, decreasing by 8.31% to Rs 926.29 crore from Rs 1010.23 crore in the March 2025 quarter.
Max Healthcare: Expenses Outpace Profit Growth
Despite reporting a 7.3% rise in net profit to Rs 342.22 crore for Q4, Max Healthcare shares fell 7.36% to Rs 1011.20, down from Rs 1091.55. While earnings per share increased, total expenses for the quarter surged 11% to Rs 1,726.14 crore, up from Rs 1,554.16 crore in Q4 FY25. The market capitalization of the healthcare provider slipped to Rs 1.01 lakh crore.
Welspun Corp: Lower Exceptional Gains Impact Bottom Line
Welspun Corp, a prominent metal manufacturer, saw its stock slip 5.76% to Rs 1252.65, from a previous close of Rs 1329.25. The company announced a 47% fall in consolidated net profit for the fourth quarter, reaching Rs 370.4 crore compared to Rs 698.3 crore in the corresponding period last year. This significant drop was largely attributed to lower exceptional gains compared to the year-ago quarter. Despite the profit decline, revenue from operations showed a positive trend, rising 9.9% year-on-year to Rs 4,312.6 crore, and EBITDA increased by 9.5% to Rs 503.8 crore, maintaining a stable EBITDA margin of 11.7%.