Max India drops after weak Q1 earnings

Max India lost 0.98% to Rs 551.30 at 11:08 IST on BSE after net profit fell 69.7% to Rs 24.59 crore on 59.8% decline in total income to Rs 45.63 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 12 August 2015.

Meanwhile, the S&P BSE Sensex was up 139.63 points or 0.51% at 27,651.89.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 65,523 shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.9% at the day's low of Rs 535 so far during the day. The stock lost 0.45% at the day's high of Rs 554.20 so far during the day. The stock had hit a record high of Rs 576.75 on 7 August 2015. The stock had hit a 52-week low of Rs 291.50 on 14 August 2014.

The stock had outperformed the market over the past one month till 12 August 2015, advancing 12.63% compared with Sensex's 0.54% fall. The scrip had also outperformed the market in past one quarter, surging 30.36% as against Sensex's 2.36% rise.

The large-cap company has equity capital of Rs 53.32 crore. Face value per share is Rs 2.

Max India is a multi-business company. The company offers life insurance, healthcare and health insurance services.

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