Suruchi Kapoor of Edelweiss Financial Services has a buy call on Max Financial Services Ltd. with a target price of Rs 565.0. The current price of Max Financial Services Ltd. is Rs 541.55 Time period given by the analyst is Intra Day when Max Financial Services Ltd. price can reach defined target. Suruchi Kapoor recommended to keep a stoploss at Rs 520 .

Max Financial Services Ltd., incorporated in 1988, has a market cap of Rs 14607.41 crore.

Investment Rationale

On fifteen minutes chart, the stock gave inverse head and shoulder pattern breakout with volume.

Quarterly Results

Source: ETMarkets.com

Financials

For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 4264.06 crore, down -20.53 per cent from last quarter sales of Rs 5365.68 crore and down -40.15 per cent from last year same quarter sales of Rs 7124.47 crore. The company reported net profit after tax of Rs 6.67 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 28.31 per cent stake in the company as of March 31, 2020, while FIIs held 30.61 per cent, DIIs 28.97 per cent and public & others 12.10 per cent.