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Last Updated : May 28, 2020 04:33 PM IST | Source: Moneycontrol.com

Buy Max Financial Services target of Rs 570: Sharekhan

Sharekhan is is bullish on Max Financial Services has recommended buy rating on the stock with a target price of Rs 570 in its research report dated May 27, 2020.

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Sharekhan's research report on Max Financial Services


Max Financial Services (MFS) posted modest numbers for Q4FY2020, with below expectations operating performance, and posted slower growth in VNB and APE due to impaired collections because of the lockdown. MLIC has a strong bancassurance relationship with Axis Bank, which is now looking more stable due to the recent agreement between the two entities. Due to the lockdown, for the medium term, premium recovery and incremental sales growth may be impacted for insurance players, including MLIC.



Outlook


We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 570.





For all recommendations report, click here


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First Published on May 28, 2020 04:33 pm
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