Japan's MS&AD likely to buy 26% stake of Max-New York Life

Japan's MS&AD is likely to buy 26% stake of New York Life. The new partner will replace New York Life, reports CNBC-TV18.

Max India is in JV with New York Life. Max India touched an intraday high of Rs 200 and an intraday low of Rs 192.50. At 09:34 hrs the share was quoting at Rs 197.65, up Rs 9.40, or 4.99%.
 
It was trading with volumes of 94,943 shares. In the previous trading session, the share closed up 3.63% or Rs 6.60 at Rs 188.25.
The company touched its 52-week high Rs 214.75 and 52-week low Rs 140.10 on 20 Sep, 2011 and 30 Dec, 2011, respectively.
 
Currently, it is trading -7.96% below its 52-week high and 41.08% above its 52-week low.
 
Market capitalisation stands at Rs 5,229.21 crore.