Max Financial

Max Financial Services Ltd (MFSL), the holding company of Axis Max Life Insurance Limited, on Tuesday reported a 59 per cent fall in net profit to Rs 70 crore in the third quarter ended December 2024. The company had earned a consolidated net profit of Rs 171 crore in the year-ago period. During the reporting quarter, policyholders' income from life insurance operations saw a decline to Rs 8,809 crore as against Rs 12,237 crore in the same quarter a year ago, MFSL said in a release. As a result, the consolidated total income plummeted to Rs 8,927 crore as compared to Rs 12,359 crore in the third quarter of previous year, it said. The other subsidiary under MFSL is Max Life Pension Fund Management Limited.

Swiss investment bank UBS Group on Friday bought shares of 29 companies, including Fortis Healthcare, Max Financial Services, Reliance Industries, Blue Star and Hyundai Motor India, for Rs 1,938 crore through open market transactions. According to the block deal data available on the National Stock Exchange (NSE), UBS AG purchased shares of Fortis Healthcare worth Rs 164 crore, bought shares of Max Financial Services for Rs 144 crore, and of Reliance Industries for Rs 138 crore. Additionally, UBS also picked up shares of Blue Star for Rs 120 crore and acquired shares of Hyundai Motor India for Rs 103 crore. The Swiss multinational also picked up shares in companies including One97 Communications, Zomato, Tata Consultancy Services and others. The shares were acquired at a combined transaction value of Rs 1,937.71 crore. Meanwhile, UBS Group's affiliate UBS Principal Capital Asia Ltd offloaded the same number of shares of 29 companies at the same price. Shares of Fortis Healthcare

Max Financial Services shares surged to their all time high level at Rs 1,283.20 a piece on Wednesday, soaring 9.64 per cent on the BSE

Max Financial Services on Friday said its promoter group firm has sold a 3.19 per cent stake to repay their debt. Max Ventures Investment Holdings Pvt Ltd, a promoter company of Max Financial Services Ltd, sold 1.10 crore equity shares or 3.19 per cent in Max Financial Services on September 5. "The promoters have cleared all its debt and the pledge of shares held by the promoter in the target company (Max Financial Services) will be Nil," Max Financial said in a BSE filing. After the share sale, Max Ventures Investment Holdings Pvt Ltd's stake was reduced to 3.22 per cent from 6.40 per cent in Max Financial Services.

Indian benchmark indices were likley headed for a slow start on Friday, weighed down by global cues as investors awaited crucial jobs and payroll data in the US

Max Financial shares fell after 2.37 million shares changed hands via multiple block deals.

Rajiv Anand, served as the non-executive director of Max Life Insurance effective from April 2023 after being nominated by Axis Bank

This deal was for Axis Bank to go up to 20%, and in the first tranche they had done 13 and 7 more was to go

Axis Bank said in a filing on Wednesday that it will raise its 9.99 per cent stake in Max Life to 16.22 per cent by infusing Rs 1,612 crores in the entity

Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move

Max Life and Max Financial Services are committed to going ahead with the deal with Axis Bank, which will see the latter acquire another 7 per cent stake in the life insurance company, said the CEO

The three stocks are part of several other domestic companies likely to get added to FTSE indices. Adani Transmission is likely to see the largest inflows at $121 million

Coal India Limited is debating on hiking coal price for the regulated sector and may take a call soon, a senior official said

Sectorally, the Nifty Metal, PSU Bank, and Bank indices advanced 25 per cent, 40 per cent, and 20 per cent, respectively during the February F&O series

Wipro announced the appointment of Rene Mulder as Country Head and Managing Director of its Switzerland operations

Max Financial Services Ltd reported 54 per cent jump in its consolidated net profit to Rs 227 crore in the third quarter ended December 2020

Irdai's approval takes Max Financial Services one step closer to the consummation of its deal with private lender Axis Bank

With 72 per cent gains in six months, the stock is an outperformer in the pack; monthly premium numbers don't provide comfort

Axis Bank had initially planned to raise its stake in the insurer to 30 per cent for about Rs 1,590 crore

Grasim is witnessing a breakout from the range where it has spent the last two months