Max Financial Services Ltd.

NSE: MFSL | BSE: 500271 | ISIN: INE180A01020 | Industry: Life Insurance
| Momentum Trap
1567.2000 -15.60 (-0.99%)
NSE Jul 11, 2025 15:31 PM
Volume: 937.5K
 

1567.20
-0.99%
Sharekhan
Value of New Business (VNB) written during H1FY21 grew by 20% y-o-y, while New Business Margin (NBM) expanded by 320 bps y-o-y to 24.2%, helped by a shift in product mix towards NPAR- Savings and Protection products. EV was at Rs 11,047 Cr., with RoEV at 17.5%. We believe the Indian insurance sector has a long growth runway; and Max Life, with strong metrics, stable bancassurance partnership with Axis Bank, etc is well-placed to benefit from growth opportunities. Max Financial is available a reasonable valuation of 1.7x / 1.5x FY2022E / FY2023E MCap / EV; We maintain Buy with a revised PT of Rs. 750....
Promoters initiated pledges of 28.67% of holdings in Mar 2025 qtr.
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