Max Financial shares up 2.4% as Nifty gains

NEW DELHI: Shares of Max Financial Services Ltd. traded 2.4 per cent up in Tuesday's trade at 11:02AM (IST). Around 67,290 shares changed hands on the counter.

The scrip opened at Rs 684.7 and touched an intraday high and low of Rs 701.0 and Rs 677.75, respectively, in the session so far. Shares of the company of Max Financial Services Ltd. quoted a 52-week high of Rs 1081.0 and a 52-week low of Rs 627.8.

As per BSE, the total market cap of the Max Financial Services Ltd. stood at Rs 23516.12 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 9322.59 crore for the quarter ended 30-Sep-2022, up 184.58 per cent from previous quarter's Rs 3275.89 crore and up 0.05 per cent from the year-ago quarter's Rs 9327.37 crore.

The net profit for latest quarter stood at Rs 51.29 crore, up 29.42 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Sep-2022, domestic institutional investors held 28.0 per cent stake in the company, while foreign institutional investors held 23.76 per cent and the promoters 14.72 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 78.34 and a price-to-book ratio of 6.61. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Max Financial Services Ltd. belongs to the Insurance - Life industry.