NSE: MFSL | BSE: 500271

Mid-range Performer

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1628.10 -68.10 (-4.01%)

71.38% Gain from 52W Low

1.1M NSE+BSE Volume

NSE 13 Mar, 2026 3:31 PM (IST)

56,188.1

Market Cap

Low in industry

Beta 1Year

Very Low volatility

Fundraise

Max Fin's board approves raising Rs 2,000 cr through a QIP issue or other modes See details

Max Financial Services Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MFSL, BSE:500271 Max Financial Services Ltd.

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Max Financial Services Ltd.

12 Feb 2026, 12:00AM

1628.10

-4.01%

Industry-leading growth trajectory continues; VNB margin up YoY

Buy: Max Financial Services Ltd.

Target

Motilal Oswal

Axis Max Life Insurance’s (MAXLIFE) APE grew 30% YoY to INR27.3b (11% beat due to better-than-expected APE for Dec’25). For 9MFY26, APE grew 21% YoY to INR69.1b.

Max Financial Services Ltd. is trading below its 30 day SMA of 1762.6

Max Financial Services Ltd.

12 Nov 2025, 12:00AM

1628.10

-4.01%

Product mix shift drives VNB margin expansion; guidance intact

Buy: Max Financial Services Ltd.

Recommendation Target

Motilal Oswal

Axis Max Life Insurance (MAXLIFE) reported an APE growth of 16% YoY to INR25.1b (in line). For 1HFY26, APE grew 15% YoY to INR41.8b.

Max Financial Servic.. has an average target of 2025.00 from 2 brokers.

Max Financial Services Ltd.

08 Aug 2025

1628.10

-4.01%

Beat on VNB margin; industry-leading growth trajectory intact

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

Axis Max Life Insurance (MAXLIFE) continued to report better-than-industry performance in 1QFY26, with new business APE growth of 15% YoY to INR16.7b (in line).

Max Financial Services Ltd. is trading below its 30 day SMA of 1762.6

Max Financial Services Ltd.

24 Jun 2025

1628.10

-4.01%

Steady outlook

Buy: Max Financial Services Ltd.

Target

Sharekhan

Over the past three years, Axis Max life has posted strong industry leading APE growth of 18% with 13% VNB CAGR. The management aspires to continue to grow APE in mid-teens (300-400 bps higher than industry) with VNB margin at 24-25% in FY26.

Max Financial Services Ltd. is trading below its 30 day SMA of 1762.6

Max Financial Services Ltd.

05 Feb 2025

1628.10

-4.01%

Strong APE growth driven by 19% growth in NOP

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

MAX Financial Services (MAXF) reported a steady performance in 3QFY25. The new business APE rose 17.4% YoY (in line) to INR21.1b. For 9MFY25, it came in at INR57.3b, up 26% YoY.

Max Financial has gained 53.33% in the last 1 Year

Max Financial Services Ltd.

23 Oct 2024

1628.10

-4.01%

Strong APE growth driven by 23% growth in NOP

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

MAX Financial Services (MAXLIFE) reported a steady performance in 2QFY25. New business APE grew 31.3% YoY to INR21.7b (in-line), while for 1HFY25, it grew 31% YoY to INR36.2b.

Max Financial has gained 53.33% in the last 1 Year

Max Financial Services Ltd.

14 Aug 2024

1628.10

-4.01%

Mixed Q1

Buy: Max Financial Services Ltd.

Target

Sharekhan

Q1FY25 numbers were a mixed bag, wherein APE growth was healthy but on the VNB front,
there was a big miss.

Max Financial Services Ltd.'s price crossed below 100Day SMA today

Max Financial Services Ltd.

14 Aug 2024

1628.10

-4.01%

VNB margin disappoints owing to adverse product mix

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

MAX Financial Services (MAXLIFE) reported a weak performance in 1QFY25, mainly due to a sharp contraction of 470bp in VNB margin.

Max Financial Services Ltd. is trading above its 200 day SMA of 1627.7

Max Financial Services Ltd.

04 Jun 2024

1628.10

-4.01%

Regulatory overhang; fairly valued

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

Max Financial Services (MAXLIFE) is seeing pension as a big opportunity over the medium term. The company is investing in its pension subsidiary and has set up a dedicated vertical to grow the annuity business.

Max Financial Services Ltd.'s price crossed below 100Day SMA today

Max Financial Services Ltd.

07 May 2024

1628.10

-4.01%

Steady performance; VNB margin beats our estimate

Neutral: Max Financial Services Ltd.

Motilal Oswal

MAX Financial Services (MAXLIFE) reported a decent performance in
4QFY24. Total APE grew 13% YoY to INR28.7b (14% beat), while absolute
VNB rose 7% YoY to INR8.2b (18% beat). VNB margin contracted 170bp YoY
to 28.6% (vs. our estimate of 27.6%)

Max Financial Services Ltd. is trading above its 200 day SMA of 1627.7

Is Max Financial Services Ltd. worth buying?

227 Votes:

Buy 71.37%

Sell 19.38%

Hold 9.25%

RESEARCH REPORTS

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pdf

Buy SEE REPORTS >

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