Buy Max Financial Services target of Rs 650: Sharekhan

Sharekhan's research report on Max Financial Services

Max Financial Services Limited (MFS) has signed definitive agreements with Axis Bank so that the companies will be JV partners in Max Life Insurance Company Ltd (MLI). The development will result in a mutually beneficial relationship for both Axis Bank and Max Life Insurance and will bring the stability of a long-term partnership to India’s fourth largest private life insurance franchise. We believe that there is a large opportunity in the Indian life insurance industry, with a huge runway for growth available for strong players.

Outlook

We maintain our Buy rating on Max Financial Services with an unchanged price target of Rs. 650.

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