Max Financial turns green in volatile market

Max Financial Services Ltd., has turned green in the volatile market. Global Markets got a firm setback on Friday as the UK voted for BREXIT. The markets all over the world have dipped by a significant margin. On the other hand, Max Financial Services has decided to go for a sole rally in the Indian equity market.

The shares on Friday, have gained as much as 5.61 per cent on an intraday basis. Currently, the shares are trading at Rs 535.40. The shares in the last 3 months have surged by over 67 per cent.

Max India Limited is a multi-business corporate, and focused on people and service-oriented businesses. The company is into Life Insurance, Health Insurance and also into Clinical Research business.

The shares' 52-week High/Low stands at Rs 539.45/303.The industry P/E stands at 100 whereas the company P/E stands at 117.The company last week had gained on the news of the merger of talks with HDFC Life. If the merger happens, the new entity will become the biggest private life insurer.

If the deal is successful, it could create the country’s largest private insurance firm with a market value of close to Rs 50,000 crore. On the other hand, the Indian Market for the entire day (June 24) remained fragile. Market spontaneously reacted to the BREXIT news, but it could have a wider repercussion in the months to come.