The stock traded at a P/E multiple of 54.55, while the price-to-book value ratio stood at 6.61.

Motilal Oswal recommended Neutral rating on MAX Financial Services with a target price of Rs 900 in its research report dated January 31, 2023.

Shares of life insurance companies fell sharply in trade on Wednesday following the announcements and extended the losses on Thursday. Shares of SBI Life Insurance, Life Insurance Corporation of India (LIC), Max Financial Services, and HDFC Life Insurance Co declined 0.5-6%.

A total of 62,847 shares changed hands on the counter till 02:03PM (IST)

Shares of HDFC Life Insurance nosedived 12% to Rs 510.30, while SBI Life Insurance plunged 9% to Rs 1,119. The countrys largest life insurer Life Insurance Corporation of India (LIC) declined 5% to Rs 618.40. Max Financial plummeted 10% to Rs 752.10. PB Fintech dropped 7% to Rs 397.25.

A total of 14,525 shares changed hands on the counter till 12:20PM (IST).

The stock traded at a P/E multiple of 96.7, while the price-to-book value ratio stood at 6.61.

On the technical charts, the 200-day moving average of the stock stood at Rs 764.04.

A total of 28,104 shares changed hands on the counter till 01:27PM (IST)

A total of 4,261 shares changed hands on the counter till 10:57AM (IST)

A total of 13,908 shares changed hands on the counter till 10:41AM (IST).

The stock traded at a P/E multiple of 96.48, while the price-to-book value ratio stood at 6.61.

A total of 742,647 shares changed hands on the counter till 12:15PM (IST).

The stock traded at a P/E multiple of 96.28, while the price-to-book value ratio stood at 6.61.

A total of 20,868 shares changed hands on the counter till 10:00AM (IST)

A total of 5,408 shares changed hands on the counter till 12:25PM (IST).

A total of 5,845 shares changed hands on the counter till 10:46AM (IST)

For the last 5 months approximately, Max Financial Services is making lower highs and lower lows structure. Recently it has started changing its structure by making higher highs and higher lows, and also it broke 12 months old trendline.

A total of 14,632 shares changed hands on the counter till 11:43AM (IST).

After a short-term correction, the stock has formed a range-bound formation near the 200-Day SMA (Simple Moving Average). It has formed a promising reversal formation this week and is comfortably trading above 20-Day SMA.

HPCL formed long bullish candle on the daily charts with strong volumes, making higher high higher low formation. The stock has seen a decisive breakout of horizontal resistance trend line adjoining September 13 and December 12, 2022.

Promoters held 14.72 per cent stake in the company as of 30-Sep-2022, while FIIs owned 45.62 per cent, DIIs 31.71 per cent.

A total of 21,035 shares changed hands on the counter till time (IST).

The penalty on Max Life Insurance was for violation of IRDAI's direction, misrepresentation to obtain approval, and contravention of share transfer directions. Axis Bank was fined for making undue gains in the deal and violation of norms.

A total of 8,128 shares changed hands on the counter till 10:31AM (IST).

A total of 22,585 shares changed hands on the counter till 02:09PM (IST)

The Banking Index was under immense selling pressure and on the weekly chart, it underperformed against the benchmark index. Bank Nifty has closed below 9 & 21 EMA on the daily chart but on the weekly time frame, index is trading above its 21 EMA which is placed at 41,017 levels. The overall trend is bullish as prices are trading within the rising channel pattern with higher high higher bottom construction on the weekly scale.

A total of 14,846 shares changed hands on the counter till 10:15AM (IST)

Max Financial Services jumped 3 percent to Rs 735.4 and formed long bullish candlestick pattern on the daily charts with above average volumes, with higher high higher low formation for third straight session. In fact, it has been in an uptrend after break out of long downward sloping resistance trend line adjoining September 20 and December 19, 2022, on January 3.

The Relative Strength Index of the stock stood at 62.26 on Thursday.

The stock quoted a 52-week high of Rs 1081.0 and a 52-week low of Rs 627.8.

Max Financial Services was also in action, rising nearly 4 percent to Rs 710 and there was formation of large bullish candle on the daily charts with above average volumes, with making higher high for third straight session. In fact, Tuesday's breakout was after couple of weeks of consolidation. The stock has seen a breakout of long downward sloping resistance trend line adjoining September 20, and December 19, 2022.

A total of 67,290 shares changed hands on the counter till 11:02AM (IST).

A total of 5,263 shares changed hands on the counter till 12:34PM (IST).

A total of 11,658 shares changed hands on the counter till 12:51PM (IST)

The stock quoted a 52-week high price of Rs 1081.0 and low of Rs 627.8.

A total of 9,384 shares changed hands on the counter till 12:41PM (IST)

“Banking still remains an interesting space because historically the rise in interest rates are followed by rising NPAs. We have to look at it from pre-2015 before the AQR and IBC was launched and post 2015 when over the past five years all incremental lending has gone to retail. So to that extent, this space is unlikely to see a huge blow out like we saw with the previous rising cycle ”

A total of 11,360 shares changed hands on the counter till 10:25AM (IST).

On the technical charts, the 200-day moving average of the stock stood at Rs 765.0.

​The promoter sold 58,85,000 shares of the company at Rs 679.20 per share, bulk deals data on the National Stock Exchange showed

Ashisha Kacholia had held a 3.34 percent stake or 11.86 lakh shares in D-Link India as of September 2022.

On the technical charts, the RSI of the stock stood at 46.12.