India's Max Financial jumps on regulator nod for full control of unit

Max Financial Services

28/11/2022 04:24

** Max Financial Services' shares  MAXI.NS  rise as much as
5.7% to 703.40 rupees, biggest intraday jump since July 29
    ** MAXI says Insurance Regulatory and Development Authority
granted approval to acquire residual 5.17% stake in Max Life
Insurance from Japan based Mitsui Sumitomo
    ** ~1 mln shares traded by 0408 GMT vs 30-day avg of ~1.3
mln
    ** 14 of 16 analysts covering MAXI rate it "buy" or higher,
while 1 each rates it "hold" and "sell"; median PT is 1,000
rupees - Refinitiv data
    ** Stock down 32.1% so far this year, up to last close
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))