you are here: HomeNewsBusiness

Buy Max Financial Services; target of Rs 1000: Sharekhan

Sharekhan is bullish on Max Financial Services has recommended buy rating on the stock with a target price of Rs 1000 in its research report dated February 10, 2021.

February 11, 2021 / 04:48 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Max Financial Services

Q3FY21 results were strong; Max Life Insurance (MLI) clocked robust 37% growth in VNB, driven by strong 22% growth in APE, and a robust 270 bps expansion in VNB margin to 26.5%. We see operating leverage benefits kicking in going ahead, as improving business mix would support VNB margins; we believe Indian insurance market has attractive growth opportunities. Stock available at 2.1x / 1.8x FY2022E / FY2023E EVPS; valuations are reasonable and are still at a discount to some bank-owned life insurance companies.


Deal with Axis positive and will provide re-rating boost; we maintain a Buy rating with a revised price target (PT) of Rs. 1,000.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 11, 2021 04:48 pm

stay updated

Get Daily News on your Browser