Max India gains in choppy trade after bulk deal

Max India advanced 2.62% at Rs 202 at 12:51 IST on BSE, in highly volatile trade, after 0.14% equity changed hands in a bulk deal on BSE today, 13 March 2014.

A bulk deal of 3.99 lakh shares was executed on the counter at Rs 199 per share at 10:01 IST on BSE today, 14 March 2014.

Meanwhile, the S&P BSE Sensex was down 160.83 points or 0.74% at 21,613.78

Bulk deal boosted volume on the Max India scrip. On BSE, so far 5.80 lakh shares were traded in the counter as against average daily volume of 64,780 shares in the past one quarter.

The stock saw high intraday volatility. The stock gained as much as 10.31% at the day's high of Rs 217.15 so far during the day. The stock rose as much as 0.63% at the day's low of Rs 198.10 so far during the day. The stock had hit a 52-week high of Rs 234.75 on 15 March 2013. The stock had hit a 52-week low of Rs 150.50 on 4 September 2013.

The stock had underperformed the market over the past one month till 13 March 2014, rising 5.55% compared with the Sensex's 7.83% rise. The scrip had also underperformed the market in past one quarter, falling 5.34% as against Sensex's 5.11% rise.

The mid-cap company has equity capital of Rs 53.25 crore. Face value per share is Rs 2.

Dynavest India bought 11.95 lakh shares of Max India at Rs 202 per share in a block deal on BSE on Thursday, 13 March 2014. Anuroop Singh was the seller.

Max India's net profit surged 176.7% to Rs 73.68 crore on 16.6% growth in total income to Rs 295.54 crore in Q3 December 2013 over Q3 December 2012.

Max India Group is a multi-business corporate. The company is into life insurance and health insurance businesses through its subsidiaries and joint ventures. The company also provides healthcare services.

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