Latest news with #MaxFinancial
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Business Standard
08-08-2025
- Business
- Business Standard
Stock Market LIVE: Sensex down 550 pts, Nifty below 24,400; Metal, Realty index slip 1%, Airtel 3%
Sensex today| Stock Market LIVE Updates, August 8, 2025: In the broader markets, Nifty Midcap100, and Nifty Smallcap100 indices were trading lower by 1 per cent, and 0.63 per cent, respectively 12:03 PM Stock Market LIVE Updates: 12 PM Market Update Stock Market LIVE Updates: Benchmark equity indices continued to trade in red. At 12:00 PM, Nifty50 was trading at 24,430 levels, down by 166 points or 0.68 per cent. Whereas, BSE Sensex was trading at 80,068.94, down by over 550 points or 0.69 per cent. From the Sensex pack, Bharti Airtel, Axis Bank, Tata Steel, Adani Ports and Kotak Mahindra Bank were among the top laggards. 11:53 AM Stock Market LIVE Updates: Max Financial share rises 4% on healthy Q1 results; key numbers here Stock Market LIVE Updates: Max Financial shares rose as much as 3.78 per cent to hit an intraday high of ₹1,563.45 per share on the last trading day of the week i.e. Friday, August 8, 2025. Max Financial Services shares rose after the company reported a strong set of numbers for the June quarter of financial year 2026 (Q1FY26). The company reported an 18 per cent year-on-year (Y-o-Y) growth in consolidated revenue, excluding investment income. READ MORE 11:32 AM Stock Market LIVE Updates: BSE shares drop 2% despite 'strong' Q1 results; what's spooking analysts? Stock Market LIVE Updates: Shares of Asia's oldest bourse, BSE Ltd., fell over 2 per cent despite strong June quarter results, as analysts warned that it will likely lose derivatives market share from the expiry day swap. The stock exchange's stock fell as much as 2.34 per cent during the day to ₹2,385 per share. The stock pared losses to trade 2.1 per cent lower at ₹2,388 apiece, compared to a 0.4 per cent advance in Nifty 50 as of 9:43 AM. The bourse reported a 103.4 per cent year-on-year (Y-o-Y) rise in net profit to ₹539 crore for the first quarter of the financial year 2026 (Q1FY26), compared with ₹265 crore in the same period last year. Sequentially, net profit was up 9.1 per cent. READ MORE 11:13 AM Stock Market LIVE Updates: Kalpataru Projects International jumps 9% on posting 130% spike in PAT YoY Stock Market LIVE Updates: Kalpataru Projects International shares jumped 8.7 per cent on Friday, August 8, 2025, and logged an intra-day high at ₹1,208.7 per share on BSE. The stock gained after the company posted Q1 results, after market hours on Thursday. In Q1, the company posted nearly a three-fold jump in its consolidated net profit to ₹213.59 crore, as compared to ₹83.95 crore a year ago. Its total income rose to ₹6,187.52 crore in the quarter from ₹4,608.5 crore a year ago. The company's consolidated revenue for Q1 FY26 grew by 35 per cent Y-o-Y to ₹6,171 crore. Its Earnings before interest, tax, depreciation and amortisation (Ebitda) increased by 39 per cent Y-o-Y to ₹525 crore and Ebitda margin came in at 8.5 per cent. READ MORE 10:52 AM Stock Market LIVE Updates: Nifty Realty index falls over 1 per cent Stock Market LIVE Updates: At 10:50 AM, the Nifty Realy index was trading 1.3 per cent down at 881.45 per cent. All the index constituents were trading in red led by Sobha Realty, Godrej Properties, Prestige Estates. Oberoi Realty, and Phoenix, falling in the range of 1 to 5 per cent. 10:31 AM Stock Market LIVE Updates: VIP Industries shares slip 4% post weak Q1 nos; here's analysts takeaway Stock Market LIVE Updates: VIP Industries, which offers products under the categories of luggage, backpacks, and homebags, shares slipped 3.8 per cent on Friday, August 8, 2025, and logged an intra-day low at ₹432.75 per share on BSE. In Q1, the luggage manufacturer reported a consolidated net loss of ₹13 as compared to a net profit of ₹4 crore year-on-year (Y-o-Y). READ MORE 9:54 AM Stock Market LIVE Updates: LIC shares rise 5% on posting Q1 results; how brokerages are rating stock? Stock Market LIVE Updates: Life Insurance Corporation of India (LIC) shares rose 4.6 per cent on Friday, August 8, 2025, and logged an intra-day high at ₹927 per share on BSE. At 9:27 AM, LIC share price was up 3.92 per cent at ₹920.15 per share. In Q1, LIC reported a modest 5 per cent year-on-year (Y-o-Y) growth in net profit at ₹10,986 crore, as compared to ₹10,461 crore. Connect with us on WhatsApp First Published: Aug 08 2025 | 8:05 AM IST
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Business Standard
08-08-2025
- Business
- Business Standard
Max Financial share rises 4% on healthy Q1 results; key numbers here
Max Financial Services shares rose after the company reported a strong set of numbers for the June quarter of financial year 2026 (Q1FY26). Max Financial Services Limited (MFSL), a part of India's leading business conglomerate – the Max Group – is primarily focused on the life insurance sector. SI Reporter New Delhi Max Financial share price: Max Financial shares rose as much as 3.78 per cent to hit an intraday high of ₹1,563.45 per share on the last trading day of the week i.e. Friday, August 8, 2025. At 11:30 AM, Max Financial share was trading 2.02 per cent higher at ₹1,536.85, even as BSE Sensex was trading 0.68 per cent lower at 80,074.12 levels/ Why did Max Financial share rise today? Max Financial Services shares rose after the company reported a strong set of numbers for the June quarter of financial year 2026 (Q1FY26). The company reported an 18 per cent year-on-year (Y-o-Y) growth in consolidated revenue, excluding investment income. Its life insurance arm, Axis Max Life Insurance Limited, recorded a healthy business performance, with its private market share improving by 121 basis points (bps) to 10 per cent in Q1. Individual Adjusted First Year Premium rose 23 per cent Y-o-Y to ₹1,553 crore, while Gross Written Premium increased 18 per cent to ₹6,397 crore. Profitability also saw an uptick, with the Value of New Business (VNB) growing 32 per cent Y-o-Y to ₹335 crore. New business margins expanded by 260 basis points to 20.1 per cent. The Embedded Value stood at ₹26,478 crore, marking a 20 per cent growth, with an Operating Return on Embedded Value (RoEV) of 14.3 per cent. Other operational metrics were also strong – Individual New Business Sum Assured grew 26 per cent Y-o-Y, new retail policy sales were up 10 per cent, and Assets Under Management (AUM) increased 14 per cent to ₹1,83,211 crore. Prashant Tripathy, CEO and managing director, Axis Max Life, said, "We have started the fiscal on a positive momentum, achieving a 23 per cent Y-o-Y increase in Individual Adjusted First Year Premium. This robust growth is built on a foundation of a balanced product mix, a wide-reaching and diversified distribution network, and a relentless focus on innovation to meet the emergent customer needs. Our New Business Margin improved significantly to 20.1 per cent in the first quarter, while the Value of New Business (VNB) saw a 32 per cent Y-o-Y growth reflecting a proactive and strategic market approach, delivering a 121 basis point gain in Axis Max Life's private industry market share.' 'This performance not only demonstrates our operational efficiency but also the ability to generate sustainable, long-term value. As we move forward, our aspiration is clear and ambitious: to continue outpacing the industry growth while marching towards the goal of being among the top 3 private life insurers in India," Tripathy added. Moreover, the company launched 'Axis Max Life app,' a digital platform that integrates life insurance servicing with wellness benefits. The app is a comprehensive, digital solution for customers, designed to simplify life insurance management, promote holistic wellness, and enhance overall customer experience. About Max Financial Max Financial Services Limited (MFSL), a part of India's leading business conglomerate – the Max Group – is primarily focused on the life insurance sector. It holds and actively manages an approximately 81 per cent majority stake in Axis Max Life Insurance. The company is publicly listed on both the NSE and BSE. In addition to a ~1.7 per cent stake held by founder Analjit Singh and the sponsor family, Max Financial boasts a diverse and prestigious shareholder base. This includes global institutions such as MSI, Capital Group, Vanguard, Polar, Pictet, Jupiter, BlackRock, Kuwait Investment Authority, Abu Dhabi Investment Authority, Franklin Templeton, Pioneer, JP Morgan, Norges Bank, and Oxbow Capital. A number of prominent domestic and international asset management companies also hold stakes in MFSL, including HDFC, Nippon, ICICI Prudential, DSP, SBI, Kotak, Aditya Birla Sun Life, Mirae, UTI, Canara Robeco, Invesco, HSBC, WhiteOak, Edelweiss, TATA, Bandhan, and PGIM. Additionally, several private life insurance companies such as HDFC Life, SBI Life, TATA AIA, Kotak Life, ICICI Prudential Life, Bajaj Allianz Life, and Aditya Birla Sun Life Insurance are also among its shareholders.
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Business Standard
03-07-2025
- Business
- Business Standard
Max Financial's Axis Max Life reports unauthorised acces to customer data
India's Max Financial Services said on Wednesday that its unit, Axis Max Life Insurance, received communication about unauthorized access to some customer data from an anonymous sender. The company has initiated a security assessment and data log analysis, Max Financial said. "A detailed investigation is also underway in consultation with information security experts to assess the root cause of the incident and take remedial action, as necessary" the company said in a statement. Axis Max Life Insurance is a joint venture between private lender Axis Bank and Max Financial. Indian firms such as Angel One, Niva Bupa Health Insurance and Star Health and HDFC Life Insurance have reported high-profile security breaches in the past 10 months. The incidents prompted the country's insurance regulator to direct industry-wide audits of IT systems. Cyber fraud cases in India jumped more than four times in fiscal 2024, causing losses of $20 million, Reuters reported earlier this year. Internal government data as of April 2024 showed that individuals lost nearly $1.26 billion to cyber fraud at financial institutions since 2021. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Recorder
02-07-2025
- Business
- Business Recorder
India's Max Financial reports cyber threat at unit
India's Max Financial Services said on Wednesday that its unit, Axis Max Life Insurance, received communication about unauthorized access to some customer data from an anonymous sender. The company has initiated a security assessment and data log analysis, Max Financial said. 'A detailed investigation is also underway in consultation with information security experts to assess the root cause of the incident and take remedial action, as necessary' the company said in a statement. Axis Max Life Insurance is a joint venture between private lender Axis Bank and Max Financial. Indian firms such as Angel One, Niva Bupa Health Insurance and Star Health and HDFC Life Insurance have reported high-profile security breaches in the past 10 months. The incidents prompted the country's insurance regulator to direct industry-wide audits of IT systems. Cyber fraud cases in India jumped more than four times in fiscal 2024, causing losses of $20 million, Reuters reported earlier this year. Internal government data as of April 2024 showed that individuals lost nearly $1.26 billion to cyber fraud at financial institutions since 2021.
Business Upturn
06-06-2025
- Business
- Business Upturn
Bernstein sees further upside in life insurance stocks; prefers Max Financial
Bernstein has retained a positive view on Indian life insurance stocks, saying there is still room for returns despite their strong run-up over the past year. Drivers for the sector: Growth and margin expansion outlook improving Reversal in regulatory pessimism supporting valuations Advertisement Bernstein prefers Max Financial over SBI Life and HDFC Life, and remains Neutral on ICICI Prudential Life and LIC. Disclaimer: The views and target prices mentioned in this article are as stated by Bernstein. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
