Max India hits lower circuit on debut

The third company of the Max Group, Max India did not fare well on the listing day, July 14. Max India listed itself on on the BSE at Rs 195 and at Rs 180 on the NSE. Immediately after its listing, the stock declined 5 percent, the lower circuit limit, to hit an intraday low of Rs 171 on the NSE and Rs 185.25 on the BSE. 

There is a circuit limit of 5 percent on either side for the stock as the exchanges said currently the securities are available for trading in series 'BE' and will subsequently be shifted to series 'EQ'. Till 10:40 am, a combined 3.72 million shares changed hands and there were pending sell orders for 4.97 million shares on the NSE and BSE.

The listing of the company will unlock value for the shareholders of erstwhile Max India allowing them to trade in a stock, which manages investments in high-potential health and allied services businesses. 

Earlier, Max Financial Services and Max Ventures and Industries have already started trading after the demerger on January 27, and June 22, 2016 respectively. Max India Limited (Max India) is a multi-business company. The Company offers Life Insurance, healthcare and health insurance services. The company is also engaged in manufacture of specialty products for the packaging industry through its SBU Max Speciality Films.