Max Financial extends rally on Axis Bank deal, up 15% in two days

Axis Bank, Max Financial, and Max Life signed a confidentiality and exclusivity arrangement to explore the possibility of Axis Bank entering into a long-term strategic partnership with Max Life

Shares of Max Financial Services rallied 5 per cent to Rs 595 on the BSE on Monday after the company on Thursday entered into an exclusivity deal with Axis Bank, wherein the lender will have a long-term bancassurance partnership with Max Life Insurance Company.

The stock has surged 15 per cent in the past two trading days. It was trading higher for the fifth straight day and touched its 52-week high level of Rs 598 on Thursday, February 20, 2020.

“Axis Bank, Max Financial Services and its subsidiary Max Life Insurance Company Limited (Max Life) signed a confidentiality