Max Financial shares down 2.36% as Sensex falls

Shares of Max Financial Services Ltd. fell 2.36 per cent to Rs 834.4 in Friday's session as of 01:27PM (IST) even as the equity benchmark Sensex traded 947.32 points lower at 59257.74.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 960.0 and a 52-week low of Rs 627.8 on NSE. Around 28104 shares changed hands on the counter till 01:27PM (IST).

The stock opened at Rs 848.55 and has touched an intraday high and low of Rs 854.9 and Rs 832.7 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 98.25, earnings per share (EPS) of Rs 8.7 and price to book value (PB) of 6.61, while the return on equity (ROE) stood at Rs 6.43.

Promoter/ FII Holding
The promoters held 45.8 per cent stake in the company as of January 27, while FII and MF ownerships stood at 91.76 per cent and 129.04 per cent, respectively.

Key Financials
With a market capitalisation of Rs 29493.51 crore, the company operates in the Insurance - Life industry. For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 9322.59 crore, up 184.58 per cent from the previous quarter?s Rs 3275.89 crore and up 0.05 per cent from the same quarter a year ago. The company reported net profit of Rs 51.29 crore for the latest quarter, up 29.42 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 71.16. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.