Buy Max India, says Sanjay Vaid

Buy Max India, says Sanjay Vaid of SBI Capital Securities.

Vaid told CNBC-TV18, "Max India has seen more than 8% addition in the OIE and has seen lot of consolidation in the last four-five sessions. The stock is trading well above the 200 and 20 Day Moving Average. On the fundamental front the Max New York Life part of the company is now achieving breakable and would start contributing dividends to the holding company and would not need any further capital infusion." He further added, "Plus Max New York Life is well poised especially with the tie up it has done with the Axis to increase market share from 5% to 7% going forward. The enterprise value of the company is close to 32 billion in the current series and we see an SOTP of the company - value of more than Rs 210, so therefore we recommend a buy on Max India with target price of Rs 195." Click HERE to know the rules and follow the score card