Reports of a block deal cause shares of Max Financial to drop by 3%.

It was reported today that more than 2% of Max Financial Services' equity was transferred in a block deal, which led to a drop of about 3% in the stock price. The total amount of the deal was Rs. 471, 000,000. Max Financial stock dropped from the previous closing of Rs 699.45 on BSE to a new low of Rs 680.15, a loss of 2.75 percent.

Value of the company in the market dropped to Rs 23,8632 crore. The share price dropped to Rs 687.50 at the market open. The price of Max Financial shares is currently below their 5, 20, 50, 100, and 200-day moving averages.

The stock price of Max Financial has dropped by 28.38 percent in the past 12 months and by 29.31 percent in the year 2022. On January 11, 2022, the share price reached a high of Rs 1081, and on November 23, 2022, it reached a low of Rs 627.80, representing a 52-week range.

On the Bombay Stock Exchange (BSE), 12.57 million shares of the company were traded, for a total of Rs 85.89 crore in trading. In the last two trading days, shares of Max Financial have dropped.

At the same time, Emkay Global has a Rs 930 price objective on Max Financial stock, indicating that it is optimistic about the company's prospects.

The 14th of December was the day of the call, and the price at the time was Rs 706.4. That price indicated a gain of 31.72 percent.

The company's stock has significantly underperformed the market and its rivals due to the double whammy of slowing growth and postponing structural simplification, which has resulted in a delay and penalty from the regulatory end. Company shares are now attributing extremely little (implied 6x FY25 VNB) structural value to such a great business, selling at a P/EV of 1.6x for FY24E. A prolonged re-rating of Max Financial's stock price is expected as the company achieves success in streamlining its organizational structure and experiences a comeback in growth, according the brokerage's estimates. What Emkay Global Inc.

The company's net profit for the third quarter increased by 29% year over year, from Rs 39.63 crore in the same period last fiscal year to Rs 51.29 crore in the current fiscal year's third quarter.

The second quarter's 9316 crore in sales was unchanged from the second quarter of the previous fiscal year's corresponding quarter's 9316 crore in sales.

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