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    Share price of Max Financial rises as Nifty strengthens

    Synopsis

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

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    India 10-year bond yield jumped 0.38 per cent to 6.03 after trading in 6.01 - 6.04 range.
    Shares of Max Financial Services Ltd. gained 0.44 per cent to Rs 847.05 in Tuesday's trade as of 10:41AM (IST). The stock hit a high price of Rs 860.1 and low of Rs 839.05 during the session.

    The return on equity (ROE) for the stock stood at 6.43 per cent. Traded volume on the counter stood at 10:41AM shares and turnover at Rs 1.18 crore around that time. The stock of Max Financial Services Ltd. quoted a 52-week high price of Rs 960.0 and 52-week low prices of Rs 627.8, respectively.

    The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.27.

    Promotor/FII Holding
    Promoters held 14.72 per cent stake in the company as of 31-Dec-2022, while FIIs held 23.76 per cent and domestic institutional investors had 28.0 per cent.

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

    Technicals
    The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
    It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    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
    The Economic Times

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