Max Financial shares rise 0.93 per cent in Monday's trading session

Shares of Max Financial Services Ltd. rose 0.93 per cent to Rs 663.4 in Monday's trade as of 01:12PM (IST) even as the benchmark Nifty ruled at 18434.55, up 119.75 points.

The scrip had closed at Rs 657.3 in the previous session. The stock quoted a 52-week low of Rs 599.3 and a high of Rs 884.7. The company quoted a market-cap of Rs 22846.6 crore on the BSE.

On BSE, 30,719 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 60.36 times its trailing 12-month EPS of Rs 10.97 per share and 6.61 times its book value. The return on equity (ROE) stood at Rs 6.43.

Key Financials
For the quarter ended 31-Mar-2023, Max Financial Services Ltd. reported consolidated sales of Rs 9934.23 crore, up 10.84 per cent from the same quarter a year ago. The company reported 61.0 per cent YoY de-growth in net profit at Rs 45.89 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Monday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.