Sharekhan's research report on Max Financial Services
Max Financial Services (MFS) posted healthy results in terms of premium growth, margin performance and traction in new business during Q4FY2019. Margin performance was strong for MFS as new business margin (Actual) for the quarter improved by 230 BPS y-o-y. We believe near-term upsides may be limited for the stock due to pending clarity on developments on M&A.
Outlook
We maintain our Hold rating on the stock with a revised PT of Rs. 480.
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