Shares of Max Financial decrease by 3% on news of a block deal.

The news that more than 2% of equity was transferred in a block sale caused the share price of Max Financial Services to drop by about 3% today. The transaction cost 471 crore. In comparison to the previous BSE close of Rs 699.45, Max Financial shares decreased 2.75% to Rs 680.15.

The company's market value decreased to Rs 23,8632 crore. The shares initially began lower at Rs 687.50. Compared to the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, Max Financial stock is currently trading lower.

The price of Max Financial's stock fell 28.38% in a year and 29.31% in 2022. On January 11, 2022, the stock reached a 52-week high of Rs. 1081, and on November 23, 2022, it reached a 52-week low of Rs. 627.80.

A total of 12.57 lakh shares of the company were traded, resulting in a BSE turnover of Rs 85.89 crore. The last two sessions have seen a decline in Max Financial stock.

With a target price of Rs 930, Emkay Global is optimistic on the Max Financial stock at the moment.

When the call was made, the closing price was Rs 706.4 on December 14. According to that price, there was a 31.72% upside.

The company's shares have significantly underperformed the larger market and rivals as a result of the twin blows of declining growth and postponed structure simplification, including the delay and penalty from the regulatory end. Shares of the company are currently trading at an FY24E P/EV of 1.6x, which gives a strong franchise very little structural value (implied 6x FY25 VNB). According to the brokerage's opinion, Max Financial's share price should experience sustained re-rating as it advances in structure simplification and experiences growth revival. said Emkay Global.

In the September quarter, the company's net profit increased by 29% to Rs 51.29 crore from Rs 39.63 crore in the equivalent quarter of the previous fiscal.

Sales in Q2 were flat at Rs 9316 crore compared to Rs 9325 crore in the same quarter of the previous year.

Comments

When is the best time to buy cryptocurrency?

It's important to remember that, unlike traditional stock markets, the cryptocurrency market is open 24 hours a day, 7 days a week. Bitcoin can be bought at any time and from anywhere by anyone with an internet connection. A study found that the best days to buy Bitcoin are Sundays and Mondays, when the price of the cryptocurrency is the lowest. The best time to buy BTC is Sunday evening because trading on all cryptocurrency exchanges tends to slow down over the weekend. The big US derivatives company CME Group takes the weekend off. Every day, institutional investors trade more than $500 million worth of bitcoin, which is a big chunk of bitcoin's total volume around the world. When should you buy crypto? Since crypto trades all day, even into the early morning hours (no matter where you live), it can be hard to time your trades to a certain time of day. But if you look at data from a few months, you can see a few very broad trends. Trading for Bitcoin (CRYPTO: BTC), Ether (CRY...

China's CBDC wallet turns to centuries-old customs to increase adoption

The digital yuan wallet app has been updated to include a traditional Chinese method of gifting money that has gone digital with the growth of digital payments. In an effort to draw in more users, China's wallet app for its digital yuan central bank digital currency (CBDC) added a feature that allows users to send money in an electronic equivalent of traditional "red packets." According to a Dec. 26 article in the South China Morning Post, the new feature was released over the weekend, about one month before the Chinese New Year on Jan. 22. The "red packets," also known as hongbao in China, are customarily used for giving money as a sign of good fortune during Chinese New Year celebrations and other occasions. Popular local services like WeChat Pay and Alipay now offer virtual red envelopes as a result of the growing use of digital payments. The e-CNY app reportedly allows a red packet to be sent to just one recipient, or a "lucky draw" can be set up f...

The Advantages Of Higher Monthly Payments

In today's financial landscape, optimizing your finances is essential for securing a stable and prosperous future. At Finance Spiders, we understand the importance of making informed financial decisions, and one strategy that can greatly benefit your financial health is increasing your monthly payments. In this comprehensive guide, we delve into the myriad advantages of boosting your monthly payments, ensuring that you have all the information you need to make this smart financial move. Discover the benefits of Higher Monthly Payments with Finance Spiders today! Additionally, if you're wondering, Personal loan can be taken for how many years? We can guide that too. Explore the world of Higher Monthly Payments and get answers to your financial questions with Finance Spiders today! Understanding The Power Of Increased Monthly Payments Before we explore the advantages, let's clarify what increasing monthly payments entails. When you make financial commitments, such ...

Search This Blog