India's Max Financial hits record high on strong business growth outlook

Max Financial Services

12/11/2025 07:06

** Max Financial Services MAXI.NS rises as much as 4.41% to record high of 1,707.6 rupees

** Life insurance firm posts drop in Q2 profit; analysts see growth in value of new business (VNB) as positive

** VNB is current value of expected future profits from all policies sold in a specific period

** Jefferies says better product mix, positive yield curve moves lifted profit margins; names co as its top insurance pick

** Motilal Oswal says co maintains better-than-industry APE growth trajectory

** Attributes strong expansion of VNB margin to rise in contribution of protection, non-par and annuity businesses

** Stock rated "buy" on avg; median PT is 1,800 rupees, per data compiled by LSEG

** MAXI gains 47% YTD

 (Reporting by Bharath Rajeswaran in Bengaluru)

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