India's Max Financial eyes best day in 4 yrs after upbeat Q2 results

HDFC Life Insurance

23/10/2024 10:33

** Shares of Max Financial Services Ltd  MAXI.NS  soar 11%
to a record 1298.60 rupees
    ** MAXI last up 9% and set for best day since Aug 2020, with
trading vol nearly 7x the 30-day avg
    ** Life insurer's value of new business grew 23% in Q2,
while margins came in at 23.6%, which Investec says beat
estimates
    ** Analysts tracking MAXI rate it "buy" on avg, same as
other private life insurers - LSEG data
    ** Stock extends YTD gains to ~34%, less than ICICI
Prudential Life's  ICIR.NS  40% jump but more than HDFC Life
Insurance's  HDFL.NS  12% rise

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))