India's Max Financial gains on hopes of easing regulatory constraints for Axis-Max Life merger

Max Financial Services

20/11/2025 06:05

** Insurer Max Financial Services' MAXI.NS shares rise 2.02% to 1701.7 rupees apiece

** Gains come after India's insurance regulator withdraws its appeal in the Supreme Court against the merger of Shriram General Insurance with its non-insurance holding company

** Decision is likely to have a positive read-across for MAXI, which is considering a merger with Axis Max Life, say analysts at Jefferies, reiterating "buy" rating

** If MAXI's merger with Axis Max Life goes through, Axis-Max Life will get listed directly, according to Jefferies

** Brokerage says MAXI is growing well, its valuations are attractive and this restructuring will be a positive

** Adds MAXI is its top pick in the insurance sector

** MAXI shares are up 50% in 2025 so far, outperforming the 7% rise in the Nifty Midcap 100 index .NIFMDCP100, exchange data shows

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))