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Axis Bank, Max Fin: How to trade these stocks after a tweak in the deal

Max Financial may see a follow-up buying, eventually resulting in an optimistic medium term outlook.

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Axis Bank has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 per cent from 29 per cent.

Avdhut Bagkar Mumbai
Shares of Max Financial Services advanced around 15 per cent to hit a 52-week high of Rs 630.9 on the BSE on Tuesday, a day after the company said that Axis Bank has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 per cent from 29 per cent.

Axis Bank's move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement. READ MORE

Axis Bank stock, on the other hand, was trading nearly 2 per cent higher at

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First Published: Aug 25 2020 | 1:42 PM IST

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