Max India rises on divestment move

The Max India scrip nearly hit the 10 per cent upper circuit before the stock corrected with the rest of the market. The scrip ended the day at Rs 230.2, a modest increase of 1.28 per cent over the previous day’s close. Reports that company was in discussions to divest its 23 per cent in Max New York India Insurance, ahead of the likely clearance of the insurance Bill, sustained interest in the stock. The stock opened at Rs 234.5 and made an intra-day high of Rs 249 and a low of Rs 228. Total volumes traded stood at 360,000 shares with 40 per cent delivery volumes.