Max Financial hits 52-week high on regulatory approval for deal with Axis Bank
Shares of Max Financial Services hit a 52-week high of Rs938.65 apiece on Thursday on the National Stock Exchange (Photo: iStock)Premium
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MUMBAI: Shares of Max Financial Services hit a 52-week high of Rs938.65 apiece on Thursday on the National Stock Exchange, rising 6.3% from previous close, following the insurance regulator s approval for its deal with Axis Bank.
As part of the deal, Axis Bank with its subsidiaries, Axis Securities Limited and Axis Capital Limited, will acquire up to 19% stake in Max Life Insurance, part of Max Financial. Of the total stake to be bought, Axis Bank proposes to acquire up to 9% and Axis Capital Limited and Axis Securities Limited together will acquire up to 3% of the share capital of Max Life in the first leg of the transaction.
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Street awaits Coal India s volume recovery after Q3 miss Coal India s sales volume though increased 9.1% year-on-year to 154 million tonnes in the December quarter, it came on a low base of last year. Photo: AFPPremium
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Volume disappointment and profit concerns remain for Coal India even though the company continues to see regular improvement in performance post easing of lockdown.
Sales volume though increased 9.1% year-on-year to 154 million tonnes (MT) in the December quarter, it came on a low base of last year. The company’s sales volumes for 10 months at 453.3 MT rose just 4.4% year-on-year.
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