Shares of Max Financial fall as Nifty gains

Shares of Max Financial Services Ltd. slipped 0.55 per cent to Rs 620.25 in Monday's trade as of 01:32PM (IST). It hit a high of Rs 630.0 and low of Rs 615.3 during the session.

The stock quoted a 52-week high price of Rs 884.7 and a low of Rs 604.4. The return on equity for the stock stood at 6.43 per cent. About 18,456 shares have changed hands on the counter so far.

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

The scrip has been an underperformer, down 16.32 per cent in the past one year in comparison with a 5.13 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 604.4 on April 24, while the 50-DMA was at Rs 668.26. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 10.15 per cent stake in Max Financial Services Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 29.78 per cent and 47.71 per cent stake.