NSE: MFSL | BSE: 500271

Momentum Trap

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1589.90 -29.00 (-1.79%)

New 52W High in past week

1.2M NSE+BSE Volume

NSE 04 Jul, 2025 3:31 PM (IST)

54,869.8

Market Cap

0.7

Beta 1Year

Very Low volatility

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.

24 Jun 2025

1589.90

-1.79%

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.

Promoters initiated pledges of 28.67% of holdings in Mar 2025 qtr.

Max Financial Services Ltd.

05 Feb 2025, 12:00AM

1589.90

-1.79%

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.

Promoters initiated pledges of 28.67% of holdings in Mar 2025 qtr.

Max Financial Services Ltd.

23 Oct 2024

1589.90

-1.79%

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.

Promoters initiated pledges of 28.67% of holdings in Mar 2025 qtr.

Max Financial Services Ltd.

14 Aug 2024

1589.90

-1.79%

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.

Number of FII/FPI investors increased from 367 to 376 in Mar 2025 qtr.

Max Financial Services Ltd.

14 Aug 2024

1589.90

-1.79%

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 Servic.. has an average target of 1515.00 from 2 brokers.

Max Financial Services Ltd.

04 Jun 2024

1589.90

-1.79%

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. has gained 59.61% in the last 1 Year

Max Financial Services Ltd.

07 May 2024

1589.90

-1.79%

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. has gained 36.47% in the last 3 Months

Max Financial Services Ltd.

07 Feb 2024

1589.90

-1.79%

In-line performance; VNB margin contracts 1,200bp YoY

Neutral: Max Financial Services Ltd.

Target

Motilal Oswal

Sharekhan increased Buy price target of Max Financial Services Ltd. to 1850.0 on 24 Jun, 2025.

Max Financial Services Ltd.

10 Aug 2023

1589.90

-1.79%

Max Financial

Buy: Max Financial Services Ltd.

Target

Sharekhan

Max Financial Servic.. has an average target of 1515.00 from 2 brokers.

Max Financial Services Ltd.

02 Jun 2023

1589.90

-1.79%

Life Insurance: Cleansing' underway; no longer nudge and push

Accumulate: Max Financial Services Ltd.

Target

HDFC Securities

While we are constructive on the long-term growth prospects of the LI sector, we believe major tectonic shifts will create near-term challenges, albeit preparing the industry for a cleaner insurance penetration. Contrary to expectations of relief in the Union Budget, life insurers are expected to be adversely impacted by the first-order and second-order changes proposed in the Finance Act'23. Conversation with industry experts suggest that the top four private life insurers are likely to witness 20-27% adverse impact on FY24E APE predominantly on account of the impending transition to the new tax regime. We flag high ceding charges in guaranteed NPAR savings as the next potential target as policymakers look to protect policyholder interest and improve life insurance (LI) penetration. While the demand for retail term protection remains subdued and the Apr-23 growth print was soft, we await evidence of medium-term growth momentum.

Max Financial Services Ltd. has gained 59.61% in the last 1 Year

Is Max Financial Services Ltd. worth buying?

218 Votes:

Buy 70.64%

Sell 19.72%

Hold 9.63%

RESEARCH REPORTS

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Neutral SEE REPORTS >

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