Max Financial Services: Well-Managed Franchise; Valuations Factor Most Positives, Says Dolat Capital
Max Financial Services: Well-Managed Franchise; Valuations Factor Most Positives, Says Dolat Capital
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Dolat Capital Report
Traditionally a par player, Max Life has significantly diversified its product mix and has made significant strides to capture the protection and non-par segment.
Max Financial Services Ltd. has been able to build a strong franchise with a profitable agency channel. Axis Bank Ltd.’s transaction will also give more comfort to the renewal on the bancassurance tie-up which is due to expire in September 2021.
The company has already delivered strong growth thus far and we believe stock price largely reflects the positives from the Axis deal as well as top-line growth.
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