PL Capital said the company expects the Insurance Bill to be passed in the Winter or Budget Session, which would set the timeline for Axis Max Life’s reverse merger with Max Financial Services.
An analyst from Master Capital said that Max Financial Services displays a strong bullish structure, sustaining above all key short-term and long-term moving averages.
An analyst from Master Capital said that Max Financial has rebounded sharply after experiencing a decline from its recent high, accompanied by an increase in trading volumes and open interest.
HDFC Life and Max Life are expected to react more favourably to the fresh development. Nomura said the IRDAI decision is expected to mitigate ambiguity within the sector and could prompt a positive upswing.
For Wednesday, share market analysts from a domestic brokerage have assigned 'Buy' calls on HCL Tech, Max Financial Services and Praj Industries. Check price targets and other crucial details.
Stocks that saw big block deals this week: Stocks such as Jio Financial Services, Coforge, HDFC Bank, Manappuram Finance and Amber Enterprises were among stocks that saw huge block deals this week. Watch this Business Today Visual Story to know more.
Max Financial Services share price: Axis Bank said it would raise its stake in insurer Max Life Insurance Company to 16.20 per cent from 9.99 per cent by infusing Rs 1,612 crore. Max Life Insurance is a joint venture between Max Financial Services and Axis Bank. Axis Bank along with its entities acquired a 12.99 per cent stake in Max Life in 2021 and through this new investment, they would own 19.02 per cent in the private insurer.
The total value of pledged or encumbered shares has more than doubled in the past three years amid the ongoing uncertainty Pledge in the domestic equity markets. In India, promoters are majority shareholders of entities that manage the day-to-day affairs of their companies. When promoters need money, they sometimes pledge or encumber some or all of their shareholding with lenders as collateral. This is one of the many sources of borrowing money, especially when liquidity conditions are tight and the markets are volatile. BT Magazine's The Point decodes it.
Max Financial Services fell 0.3 per cent lower to Rs 768.25 on BSE. Kotak Institutional Equities sees the stock at Rs 1,000 level
Max Financial Services Limited will issue and allot 7.54 crore shares of Rs 2 each at a price of Rs 565.11 per equity share on a preferential allotment basis to Mitsui Sumitomo
Share price of Max Financial Services rose up to 15.71% to Rs 597.60 compared to the previous close of Rs 516.45 on BSE





