Max Financial Services (MFSL) shares soared more than 8 per cent to hit a record high of Rs 798 on the BSE in a subdued market after the company reported strong numbers for the quarter ended December 2020 (Q3FY21). At 11:30 am, the shares of Max Financial Services were trading at Rs 790.35, up 7.11 per cent on the BSE.
The company reported a 54 per cent jump in consolidated net profit to Rs 227 crore in the third quarter ended December 2020 from Rs 147 crore in the year-ago period. The consolidated revenues during the quarter under consideration soared to Rs 8,990 crore, growing 68 per cent on a year-on-year basis.
Max Financial holds a 93.10 per cent stake in Max Life Insurance.
Among other financial services companies, Bajaj FinServ and SBI Life Insurance gained 2.8 per cent and 2.3 per cent respectively.
The BSE Sensex was trading at 51,302.20, lower by 126.20 points or 0.24 per cent and the NSE Nifty was at 15,078.85, down 29.60 points or 0.18 per cent at the time.