Max India is currently trading at Rs. 492.80, up by 5.40 points or 1.11% from its previous closing of Rs. 487.40 on the BSE.
The scrip opened at Rs. 497.90 and has touched a high and low of Rs. 499.40 and Rs. 489.00 respectively. So far 52488 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 522.00 on 28-Jan-2015 and a 52 week low of Rs. 198.85 on 09-Apr-2014.
Last one week high and low of the scrip stood at Rs. 499.40 and Rs. 447.85 respectively. The current market cap of the company is Rs. 12989.35 crore.
The promoters holding in the company stood at 40.48% while Institutions and Non-Institutions held 47.69% and 11.84% respectively.
Max India has received Competition Commission of India’s (CCI) approval for its proposed corporate restructuring plan to vertically split the company through a demerger into three separate listed firms, including one for life insurance.
Upon the completion of the demerger, Max India is proposed to be named as Max Financial Services and would focus solely on the life insurance activity, through its 72.1 per cent stake in Max Life Insurance.
The deal involves transfer of shareholding of Max in certain entities through which it operates different businesses to its subsidiaries -- Taurus Ventures and Capricorn Ventures.
