Buy Max Financial Services, target price Rs 830: Motilal Oswal

0
25
Buy Max Financial Services, target price Rs 830:  Motilal Oswal


Motilal Oswal has buy call on Max Financial Services with a target price of Rs 830. The current market price of Max Financial Services Ltd. is Rs 698.95.

Max Financial Services Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 23926.29 Crore) operating in Financial Services sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 7019.85 Crore, up 27.53 % from last quarter Sales of Rs 5504.61 Crore and up 49.81 % from last year same quarter Sales of Rs 4685.87 Crore Company reported net profit after tax of Rs 81.06 Crore in latest quarter.

Investment Rationale
The stock currently trades at 2.3x FY23EV and ~14xFY23 EVOP. The brokerage expects the stock to continue to re-rate if the AXSB-MAXLIFE deal goes through and both entities forge a long term strategic partnership.


Promoter/FII Holdings
Promoters held 17.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 19.7 per cent, DIIs 50.9 per cent and public and others 12.2 per cent.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here