Financial shares

Max Financial share price: Max Financial shares gain 0.72% as Sensex increases

The shares of Max Financial Services Ltd. traded 0.72% at Rs 961.85 at 11:31 am (IST) on Thursday, even as the BSE benchmark Sensex gained 251.26 points to 57181.82.

The certificate had settled at Rs 955.0 during the previous session. The stock traded at a 52-week high price of Rs 1147.9 and a 52-week low of Rs 644.3, respectively. According to ESB data, the total volume traded over the counter until 11:31 am (IST) stood at 2,305 shares with a turnover of Rs 0.22 crore.

At the current price, the company’s shares were trading at 111.03 times its 12-month EPS of Rs 8.66 per share and 8.87 times its price over its book value, according to stock exchange data.

A higher price-to-earnings ratio shows that investors are prepared to pay a higher share price today due to growth expectations going forward.

Book value indicates the intrinsic value of a business and reflects the price investors are willing to pay even when the business does not grow. The stock’s beta value, which measures its volatility relative to the overall market, was 1.27.

Shareholder details

The promoters held 14.72% of the company’s capital as of September 30, 2021, while the FIIs held 27.72% and the DII 23.17%.

Techniques

On technical charts, the stock’s Relative Strength Index (RSI) stood at 48.22. The RSI hovers between zero and 100. Traditionally it is considered an overbought condition when the value of the RSI is above 70 and an oversold condition when it is below 30. Chartists say that the RSI should not be. considered in isolation because it may not be enough to take a trading call, just as fundamental analysts cannot give a “buy” or “sell” recommendation using a single valuation ratio.