Max Financial shares down 2.99% as Nifty drops

NEW DELHI: Shares of Max Financial Services Ltd. traded 2.99 per cent down in Monday's trade at 02:04PM (IST). Around 59,287 shares changed hands on the counter.

The scrip opened at Rs 662.25 and touched an intraday high and low of Rs 681.5 and Rs 656.05, 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 22777.57 crore at the time of writing this report.

Key Financials
The company reported consolidated net 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 firm, 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 50.59 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.