Max India rises after unit's deal with Max Estates

Max Estates

30/09/2024 08:28

** Shares of Max India Ltd  MAII.NS  rise as much as 5% to
268.1 rupees
    ** Co, which is involved in senior care business, says its
unit signed an agreement with real estate co Max Estates
 MAXS.NS  to manage senior living residences in the national
capital region of Gurugram
    ** Both Max India and Max Estates are part of Delhi-based
healthcare, hospitality, real estate conglomerate Max Group
    ** Adds, unit has potential to earn revenue of 1.4 bln
rupees ($16.7 mln) over its life cycle 
    ** Stock on track to gain for second straight day
    ** More than 66,000 shares traded as of 12:47 p.m. IST,
busiest day yet in almost a week 
    ** MAII last up 2.2%, adding to YTD gains of ~60% so far

($1 = 83.7825 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))