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UBS Group has acquired shares in 29 companies, including Fortis Healthcare, Max Financial Services, Reliance Industries, Blue Star, and Hyundai Motor India, for a total of Rs 1,938 crore through open market transactions. Notable purchases include Rs 164 crore in Fortis Healthcare and Rs 144 crore in Max Financial Services. Following the acquisitions, shares of Fortis Healthcare, Blue Star, and Reliance Industries experienced declines on the National Stock Exchange.
On Muhurat trading day, the market may see a rebound after recent weakness, with sustainability being crucial. Key buy ideas include Asahi India Glass and BEML, as market breadth remains favorable for bulls, with 1,615 shares advancing against 886 declining on the NSE.
Sebi has issued a show cause notice to Axis Bank regarding its stake acquisition in Max Life Insurance, which was communicated via email on October 25. Axis Bank, along with its subsidiaries, plans to respond, asserting that the transactions were conducted with necessary regulatory approvals. Additionally, several directors and key personnel from Max Financial Services have also received notices from Sebi.
MAX Financial Services reported a steady performance in 2QFY25, with new business APE growing 31.3% YoY to INR 21.7 billion and VNB increasing 23.1% YoY to INR 5.1 billion. VNB margins expanded to 23.6%, driven by strong volume growth and rider attachment. The management aims for double-digit VNB growth and margins of 23-24% for FY25, while the target price is set at INR 1,300, reflecting a 20% holding company discount.
Max Financial Services Limited
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs group invests rs 1938 crore in 29 companies including reliance and fortis
Indian Rupee
UBS Group AG
One97 Communications Limited
Fortis Healthcare Limited
Max Financial Services Limited
Reliance Industries Ltd
HYUNDAI MOTOR INDIA LTD
Tata Consultancy Services Limited
Blue Star Global, Inc.
Zomato Limited
IND
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23:34 24.01.2025
trading strategies for sbi life max financial and others on muhurat day
Indian Rupee
Max Financial Services Limited
Asahi India Glass Limited
SBI Life Insurance Company Ltd.
BEML Limited
City Union Bank Limited
IND
Hardik Matalia
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17:08 31.10.2024
sebi issues notice to axis bank over max life insurance stake acquisition
Indian Rupee
Axis Bank Limited
Max Life Insurance Company Ltd.
Max Financial Services Limited
Insurance Regulatory and Development Authority of India (IRDAI)
IND
Show more
19:04 26.10.2024
max financial services reports steady growth with neutral outlook and target price
16:04 24.10.2024
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