India's Max Financial hits 1-month high on Max Life stake buy

Max Financial Services

09/12/2022 04:29

** Shares of Max Financial Services  MAXI.NS  shares rise as
much as 3.20% to 729.45 rupees, highest level since Nov. 3
    ** Co completed acquisition of the balance 5.17% stake of
Max Life held by Japan's Mitsui Sumitomo Insurance Co Ltd
 MITSID.UL , per exchange filing
    ** MAXI's shareholding in Max Life increased to 87%
    ** Stock set for second consecutive session of gains 
    ** More than 341,000 shares traded by 09:45 a.m. IST, 0.3x
30-day avg of 1.1 mln shares
    ** Fourteen of the 16 analysts covering the stock have a
"buy" or higher rating, one has "hold," one rates it at "sell;"
median PT is 1,000 rupees - Refinitiv data
    ** Up to last close, stock down 27.9%% YTD, vs 11.3% rise in
the Nifty Financial Services  .NIFTYFIN  index 
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))