Max Financial shares down 1.52% as Nifty drops

NEW DELHI: Shares of Max Financial Services Ltd. traded 1.52 per cent down in Thursday's trade at 01:58PM (IST). Around 11,481 shares changed hands on the counter.

The counter opened at Rs 708.1 and touched an intraday high and low of Rs 708.1 and Rs 686.3, respectively, in the session so far. Shares of the company of Max Financial Services Ltd. quoted a 52-week high of Rs 884.7 and a 52-week low of Rs 627.8.

Total market cap of the Max Financial Services Ltd. stood at Rs 23702.48 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 8898.35 crore for the quarter ended 31-Dec-2022, down 4.55 per cent from previous quarter's Rs 9322.59 crore and down 27.95 per cent from the year-ago quarter's Rs 6954.76 crore.

The net profit for latest quarter stood at Rs 224.94 crore, up 200.48 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Dec-2022, DIIs held 32.26 per cent stake in the company, while foreign institutional investors held 44.8 per cent and the promoters 11.45 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 52.64 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.