India's Max Financial gains on upbeat analyst views despite Q4 loss

Max Financial Services

08/05/2024 07:46

** Shares of Max Financial Services  MAXI.NS  up 2.2% at
990.90 rupees
    ** While MAXI, engaged in life insurance and investment
advisory services, reported a Q4 loss vs profit year ago,
analysts were optimistic on co's value of new business (VNB)
    ** MAXI's 7% VNB rise and 13% new premium growth beat
estimates and were higher than peers, while margins were in line
with guidance - Jefferies
    ** Brokerage maintains "buy" on stock, which is among its
top picks
    ** Margin expanded on sequential basis due to seasonality as
well traction for certain margin-enhancing products, Yes
Securities says 
    ** Stock set to snap three-session losing streak 
    ** MAXI up ~4% YTD after gaining ~41% in 2023
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))