Max India recovers on bargain hunting

Max India rose 3.09% to Rs 198.40 at 11:54 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 192.62 points or 0.92% at 21,225.50.

On BSE, so far 4,588 shares were traded in the counter as against average daily volume of 40,682 shares in the past one quarter.

The stock hit a high of Rs 199.30 and a low of Rs 191.50 so far during the day. The stock had hit a 52-week high of Rs 253.75 on 16 January 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 14 January 2014, declining 7.45% compared with the Sensex's 1.53% rise. The scrip had also underperformed the market in past one quarter, advancing 1.29% as against Sensex's 2.06% rise.

The mid-cap company has equity capital of Rs 53.22 crore. Face value per share is Rs 2.

Shares of Max India had declined 10.9% in eight trading sessions to settle at Rs 192.45 on Tuesday, 14 January 2014 from a recent high of Rs 216 on 2 January 2014.

Max India reported net profit of Rs 1.99 crore in Q2 September 2013 as against net loss of Rs 17.43 crore in Q2 September 2012. Net sales rose 7.3% to Rs 190.10 crore in Q2 September 2013 over Q2 September 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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