Max Financial stock price: Max Financial shares fall 0.4% in Wednesday’s trading session

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The shares of Max Financial Services Ltd. fell 0.4% to Rs 730.2 in Wednesday trade at 11:31 a.m. (IST) even as the benchmark Nifty reigned at 16,956.55, down 112.55 points.

The certificate had closed at Rs 733.1 in the previous session. The stock traded a 52-week low of Rs 700.1 and a high of Rs 1147.9. The company quoted a market cap of Rs 25,300.36 crore on BSE.

On BSE, 236,689 shares have changed hands on the counter so far. At its prevailing price, the share traded at 127.77 times its 12-month EPS of 5.74 rupees per share and 8.87 times its book value. The return on equity (ROE) stood at Rs 12.72.

Key financial data

For the quarter ended December 31, 2021, Max Financial Services Ltd. reported consolidated sales of Rs 6,954.76 crore, down 22.64% from the same quarter a year ago. The company reported a 57.42% year-on-year decline in net profit to Rs 74.86 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) for the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered an overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say that the RSI indicator should not be considered in isolation, as it may not be sufficient to take a trade call, just as a fundamental analyst cannot give a “buy” or “sell” recommendation in using a single valuation ratio.

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