Max Financial Services share price hit a record high of ₹1,857.80 in intraday trade on the BSE on Monday, February 16, looking set to extend gains to the third consecutive session. Max Financial Services shares opened at ₹1,846.10 against their previous close of ₹1,826.45 and rose 1.7% to an all-time high of ₹1,857.80.
The insurance stock has been on a roll this month, rising about 14%, on course to snap its two-month losing run. It hit a 52-week low of ₹972.55 on March 4 last year, and at present, it is up over 90% from its one-year low.
Why is Max Financial Services share price rising?
Max Financial shares have been in the green after the company announced its December quarter scorecard.
On February 11, the insurance player reported a consolidated profit (attributable to the owners of the company) of ₹36.56 crore for Q3FY26. In the same quarter last year, the company’s profit was ₹56.04 crore, while in Q2FY26, the profit was ₹4.12 crores.
Interest income for the quarter stood at ₹164.02 crore, compared to ₹132.96 crore year-on-year (YoY) and ₹151.87 crore quarter-on-quarter (QoQ).
Total consolidated revenue from operations rose to ₹14,258.93 crore from ₹8,922.67 crore YoY and ₹9,791.59 crore QoQ.
Max Financial Services shares: Should you buy?
Experts appear positive about the stock for the long term, anticipating healthy APE (annualised premium equivalent) growth due to strong retail protection.
Brokerage firm PL Capital has a buy call on the stock with a target price of ₹2,050.
PL Capital expects an APE growth of 18% and 17% in FY26 and FY27E, respectively, driven by a strong uptick in retail protection post GST exemption, new launches in PAR/NPAR/annuity, and recovery in credit life volumes.
Furthermore, PL Capital has revised its FY26 and FY27E VNB margin estimates upward to 24.4% and 24.7%, respectively, as the share of protection increases.
Technical experts are also positive about the stock but recommend waiting for a correction before initiating a fresh buy.
According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, Max Financial Services has given a strong breakout above the ₹1,760 resistance zone and is currently trading near ₹1,850, indicating sustained bullish momentum.
“The breakout is well supported by momentum indicators, with MACD positioned in positive territory, DMI showing strength with +DI above –DI, and RSI placed firmly in the bullish zone,” Patel said.
“Considering the sharp upmove after the breakout, traders are advised to trail the stop loss at ₹1,800 on a closing basis to protect gains. For fresh buying opportunities, it is advisable to wait for a healthy pullback toward the ₹1,700 zone, which could offer a better risk-reward setup,” Patel said.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
