Max Financial Services soars over 15% on heavy volumes
The stock zoomed 20% to Rs 514, also its 52-week high on the BSE in intra-day trade.
 "Max Financial Services soars over 15% on heavy volumes")
Max Financial Services has zoomed 20% to Rs 514, also its 52-week high on the BSE in intra-day trade on heavy volumes. The rally comes on the back of reports that HDFC Life and Max Life are in talks to create the country's biggest private life insurer.
Max Financial Services is the holding company for Max Life, India’s largest non-bank, private life insurance company. Max Life is a joint venture with Mitsui Sumitomo Insurance, a Japan-based life insurance firm.
According to a report in Economic Times, the companies may announce their plans in the next few days. The board of HDFC Life is reoportedly meeting in Mumbai on Friday to discuss the proposal. CLICK HERE TO READ FULL REPORT.
At 10:05 AM, the stock was up 19% to Rs 512 on the BSE on back of an over seven-fold jump in trading volumes. A combined 3.71 million equity shares representing 1.4% of total equity of Max Financial Services changed hands on the NSE and BSE. On an average, less than 10-lakh shares were traded daily in past two weeks on both the exchanges.
Max Financial Services is the holding company for Max Life, India’s largest non-bank, private life insurance company. Max Life is a joint venture with Mitsui Sumitomo Insurance, a Japan-based life insurance firm.
According to a report in Economic Times, the companies may announce their plans in the next few days. The board of HDFC Life is reoportedly meeting in Mumbai on Friday to discuss the proposal. CLICK HERE TO READ FULL REPORT.
At 10:05 AM, the stock was up 19% to Rs 512 on the BSE on back of an over seven-fold jump in trading volumes. A combined 3.71 million equity shares representing 1.4% of total equity of Max Financial Services changed hands on the NSE and BSE. On an average, less than 10-lakh shares were traded daily in past two weeks on both the exchanges.