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    Max Financial shares down 0.89% as Nifty gains

    Synopsis

    A total of 3,600 shares changed hands on the counter till 01:09PM (IST).

    NiftyGetty Images
    India 10-year bond yield rose 0.05 per cent to 6.03 after trading in 6.02-6.04 range.
    NEW DELHI: Shares of Max Financial Services Ltd. traded 0.89 per cent down in Thursday's trade at 01:09PM (IST). Around 3,600 shares changed hands on the counter.

    The scrip opened at Rs 784.0 and touched an intraday high and low of Rs 784.0 and Rs 767.5, respectively, in the session so far. Shares of the company of Max Financial Services Ltd. quoted a 52-week high of Rs 1136.8 and a 52-week low of Rs 697.05.

    As per BSE, the total market cap of the Max Financial Services Ltd. stood at Rs 27453.88 crore at the time of writing this report.

    Key Financials
    The company reported consolidated net sales of Rs 3275.89 crore for the quarter ended 30-Jun-2022, down 63.45 per cent from previous quarter's Rs 8962.31 crore and down 44.88 per cent from the year-ago quarter's Rs 5943.14 crore.

    The net profit for latest quarter stood at Rs 56.36 crore, up 165.97 per cent from the corresponding quarter last year.

    Shareholding pattern
    As of 30-Jun-2022, DIIs 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 95.15 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.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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