Max India fell 1.43% to Rs 382 at 12:15 IST on BSE, with the stock sliding on profit booking after recent rally.
Meanwhile, the S&P BSE Sensex was down 37.01 points or 0.14% at 27,171.60.
On BSE, so far 30,000 shares were traded in the counter as against average daily volume of 84,722 shares in the past one quarter.
The stock hit a high of Rs 389.25 and a low of Rs 378.50 so far during the day. The stock had hit a record high of Rs 442.70 on 12 November 2014. The stock had hit a 52-week low of Rs 177.60 on 20 February 2014.
The stock had outperformed the market over the past one month till 24 December 2014, declining 2.66% compared with Sensex's 4.53% fall. The scrip had also outperformed the market in past one quarter, jumping 15.89% as against Sensex's 1.73% rise.
The large-cap company has equity capital of Rs 53.30 crore. Face value per share is Rs 2.
Shares of Max India had risen 6.92% in five trading sessions to settle at Rs 387.55 on 24 December 2014, from a recent low of Rs 362.45 on 17 December 2014.
Max India reported a net loss of Rs 11.30 crore in Q2 September 2014 compared with net profit of Rs 1.99 crore in Q2 September 2013. Total income declined 93% to Rs 14.90 crore in Q2 September 2014 over Q2 September 2013.
The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses.
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