Status: Pending
Age: New (2025-08-12)
Broker Motilal Oswal Recommends Neutral on Max Financial Services with Target of ₹1750
Brokerage
Motilal Oswal
Analyst
Brokerage Team
Position
Neutral
Start Date
2025-08-12
Horizon
Not specified
Target Price and Expected Returns
Start Price
Target Price
₹1750
Expected Returns
Not calculable due to lack of base price
Summary
Motilal Oswal has recommended a neutral rating on Max Financial Services with a target price of ₹1750.
Motilal Oswal's justification for Max Financial Services target price prediction
- Improved new business APE growth of 15% YoY to INR16.7 billion.
- VNB growth of 32% YoY to INR3.4 billion, beating estimates by 9%.
- Higher VNB margin at 20.1% versus 17.5% in the previous quarter.
- EV of INR264.7 billion at the end of 1QFY26.
- Retains estimates with 25.0%/25.5% VNB margin in FY26/27.
Sources:
(https://www.whatsapp.com/channel/0029Va2JvT3LtOj3x6oZcO1D) (https://news.google.com/publications/CAAqBwgKMJWwjwswq82iAw?hl=en-IN&gl=IN&ceid=IN%3Aen) (https://www.google.com/preferences/source?q=https://www.moneycontrol.com)
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