Event: Max Financial Services (MFS) and Max Life have entered into an agreement for a potential merger with HDFC Life. Under this arrangement, Max Life will first merge with MFS, which will in turn merge with HDFC Life. This arrangement will ensure an automatic listing for HDFC Life. Motilal Oswal increased Buy price target of Max India Limited to 545.Trendlyne has 3 reports on MFSL updated in the last year from 1 broker with an average target of Rs 545. Brokers have a rating for MFSL with 2 price upgrades in past 6 Months.