Max Financial Services Ltd (MFSL), the holding company of Axis Max Life Insurance Limited, on Tuesday reported a 59 per cent fall in net profit to Rs 70 crore in the third quarter ended December 2024. The company had earned a consolidated net profit of Rs 171 crore in the year-ago period. During the reporting quarter, policyholders' income from life insurance operations saw a decline to Rs 8,809 crore as against Rs 12,237 crore in the same quarter a year ago, MFSL said in a release. As a result, the consolidated total income plummeted to Rs 8,927 crore as compared to Rs 12,359 crore in the third quarter of previous year, it said. The other subsidiary under MFSL is Max Life Pension Fund Management Limited.
Shares of HDFC Life, ICICI Prudential, SBI Life and Max Financial Services are up in the range of 5 per cent and 10 per cent
According to the latest data, HDFC Life distributes 65 per cent of its insurance policies through banking channels, followed by SBI Life (60 per cent), Max Life (52 per cent), and ICICI Prudential
Max Financial Services shares surged to their all time high level at Rs 1,283.20 a piece on Wednesday, soaring 9.64 per cent on the BSE
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Max Financial Services on Friday said its promoter group firm has sold a 3.19 per cent stake to repay their debt. Max Ventures Investment Holdings Pvt Ltd, a promoter company of Max Financial Services Ltd, sold 1.10 crore equity shares or 3.19 per cent in Max Financial Services on September 5. "The promoters have cleared all its debt and the pledge of shares held by the promoter in the target company (Max Financial Services) will be Nil," Max Financial said in a BSE filing. After the share sale, Max Ventures Investment Holdings Pvt Ltd's stake was reduced to 3.22 per cent from 6.40 per cent in Max Financial Services.
Technical chart shows that MFSL stock is facing some resistance around Rs 1,140 level; while the short-term trend may turn cautious, the overall trend seems positive; check key levels here.
Derivatives market update for Sept 06: The Nifty PCR dipped from 0.74, while Bank Nifty to 0.78; reflecting a cautionary trend said Dhupesh Dhameja of SAMCO Securities. Max Financial see short buildup
Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction. Analjit Singh-promoted Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance. According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares amounting to a 3.18 per cent stake in Noida-based Max Financial Services. The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to Rs 1,218.11 crore. After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.34 per cent from 6.52 per cent. Details of the buyers of Max Financial Services' shares could not be ascertained. Shares of Max Financial Services Ltd fell 1.42 per cent to close at Rs 1,117.25 apiece on the NSE. In August last year
Max Financial shares fell after 2.37 million shares changed hands via multiple block deals.
VNB margin measures the profitability margin for life insurers