Max Financial shares down 2.37% as Nifty gains

NEW DELHI: Shares of Max Financial Services Ltd. traded 2.37 per cent down in Friday's trade at 01:34PM (IST). Around 17,288 shares changed hands on the counter.

The counter opened at Rs 687.95 and touched an intraday high and low of Rs 687.95 and Rs 659.0, respectively, in the session so far. The stock of Max Financial Services Ltd. quoted a 52-week high of Rs 884.7 and a 52-week low of Rs 599.3.

Total market cap of the Max Financial Services Ltd. stood at Rs 22798.28 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 corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2023, DIIs held 29.78 per cent stake in the firm, while foreign institutional investors held 47.7 per cent and the promoters 10.15 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 50.63 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.