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Accumulate Max Financial Services; target of Rs 784 : Dolat Capital Market

Dolat Capital Market recommended accumulate rating on Max Financial Services with a target price of Rs 784 in its research report dated December 30, 2020.

December 30, 2020 / 04:33 PM IST
 
 
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Dolat Capital Market's research report on Max Financial Services


Traditionally a Par player, MAXLIFE has significantly diversified its product mix and has made significant strides to capture the protection and non-par segment. MAXF has been able to build a strong franchise with a profitable agency channel. AXIS bank transaction will also give more comfort to the renewal on the bancassurance tie-up which is due to expire in September 2021. MAXF has already delivered strong growth thus far and we believe stock price largely reflects the positives from the AXIS deal as well as top-line growth.


Outlook


As most positives are already factored in, we initiate with an ACCUMULATE rating with TP of Rs784, implying a FY-22E P/EV of 1.9x. The stock currently trades at a FY22 P/EV of 1.6x.


For all recommendations report, click here


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

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first published: Dec 30, 2020 04:33 pm

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