Share price of Max Financial rises as Nifty weakens

Shares of . gained 0.88 per cent to Rs 746.55 in Tuesday's trade as of 10:31AM (IST). The stock hit a high price of Rs 751.5 and low of Rs 736.65 during the session.

The return on equity (ROE) for the stock stood at 6.43 per cent. Traded volume on the counter stood at 10:31AM shares and turnover at Rs 0.61 crore around that time. The stock of Max Financial Services Ltd. quoted a 52-week high price of Rs 1081.0 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 30-Sep-2022, while foreign investors 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.