535.90 -3.45 (-0.64%)
NSE Aug 07, 2020 15:31
Volume: 475.3K

Max Financial Services Ltd.    
31 Jul 2020
Nirmal Bang Institutional
Margin contraction due to cost over-runs and low rates Max Life reported APE of Rs6.6bn for the quarter, down 4% YoY. Understandably, new business generation was affected during the quarter due to the lockdown. Renewals growth was 6% YoY. Persistency ratios have dipped across cohorts. In the last earnings call, the management had highlighted that April '20 saw some stress in terms of renewals collections due to grace period granted in light of the covid situation. We would keenly watch persistency ratios from here onwards. In the near-to-medium term, growth in the savings segment is expected to remain weak. Therefore, the management's focus would be on pushing more of protection and non-par...
Max Financial Services Ltd. is trading below it's 30 day SMA of 554.5
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