# MFSL (MFSL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/mfsl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,546.8
- Change: -0.46%
- As of: 2026-09-18
- 1D return: +0.32%
- 5D return: +5.34%
- 1M return: -1.02%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, the stock is trading at ₹1559.0, exhibiting a mixed technical stance across different timeframes. Daily indicators suggest a weakening trend, with the price below the Supertrend at ₹1568.93 and the 200-day Simple Moving Average (SMA) at ₹1631.14, although it remains above the 20-day Exponential Moving Average (EMA) and 50-day SMA. Weekly timeframes show a more pronounced bearish sentiment, with the price below the 20-day EMA, 50-day EMA, 20-day SMA, 50-day SMA, and the weekly Supertrend at ₹1761.18. In contrast, the monthly timeframe shows the price above the 20-day EMA and 20-day SMA, but below the monthly Supertrend at ₹2083.51, indicating potential longer-term support but an overarching bearish monthly trend. Recent market activity includes three events in the last 30 days, with one downside event and one neutral event, alongside two wide intraday range anomalies on September 17 and 16, 2026, and a downward anomaly on September 15, 2026, suggesting increased volatility.

The nearest support level is identified at ₹1532.37, approximately 1.71% below the current price, followed by ₹1502.53. Resistance is observed at ₹1559.7, very close to the current price, and then at ₹1591.13, about 2.06% higher. The stock's current position within its 20-day range is 75%, and within its 252-day range is 29%, indicating it is trading closer to the upper end of its short-term range but lower within its longer-term trading band. The annualized volatility stands at 26%, with a current drawdown of -17% and a maximum drawdown of -24%, highlighting the stock's risk profile.

- The stock's current price is ₹1559.0 as of September 18, 2026.
- Nearest support is at ₹1532.37 (1.71% below current price), with resistance at ₹1559.7 (0.04% above current price).
- Daily and weekly timeframes show bearish signals, with the price below key moving averages and Supertrend indicators.
- Monthly timeframe shows mixed signals, with price above short-term moving averages but below the monthly Supertrend.
- Watch for a break below ₹1532.37 support to confirm further downside, or a sustained move above ₹1559.7 resistance to signal potential short-term strength.

- Doji
- Harami
- Outside Bar
- Bullish Engulfing Reversal
- Bearish Engulfing Reversal
- Evening Star

### News Context

On September 17, 2026, news reports indicated that HDFC Life, along with other life insurance companies, experienced stock price increases of up to 7%. This movement was attributed to expectations of reduced commission payments within the sector. Separately, on the same day, Kotak Securities' Amol Athawale identified HDFC Life as one of three stocks recommended for short-term investment, citing a positive outlook despite prevailing market volatility.

- On 2026-09-17, HDFC Life's stock price rose as part of a broader sector increase, with reports linking the trend to anticipated lower commission payments.
- On 2026-09-17, Kotak Securities' Amol Athawale included HDFC Life among three recommended short-term stock picks.

- HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment
- HDFC Life, Britannia among stocks to buy | Kotak Securities' expert bullish on 3 shares for the short term

### What Changed

On September 18, 2026, Max Financial Services (MFSL) saw a slight increase in its stock price, trading at ₹1559.0 compared to its previous price of ₹1554.0. This movement occurred amidst broader market activity where stocks of life insurance companies, including HDFC Life and SBI Life, rose by up to 7%. The news highlighted investor optimism regarding potentially lower commission payments for these companies. No new filings were reported for MFSL on this date. The company continues to be listed on the NSE.

- On 2026-09-18, MFSL's stock price was ₹1559.0, up from ₹1554.0.
- News on 2026-09-18 indicated a sector-wide rise in life insurance stocks, with HDFC Life and SBI Life up to 7%, driven by hopes of reduced commission payments.
- No new filings were reported for MFSL as of 2026-09-18.
- MFSL is listed on the NSE.

- HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment

### Official Filings

Max Financial Services Limited (MFSL) has recently disclosed its Environmental, Social, and Governance (ESG) ratings from two independent agencies. On September 18, 2026, the company reported an ESG rating of 71 out of 100 from Niche Ninety Nine Capability and Certifications (OPC) Private Limited. This rating was based on public data without direct company engagement. Prior to this, on September 11, 2026, MFSL had disclosed receiving an ESG rating of 70 and a Core ESG Rating of 77 from Crisil ESG Ratings & Analytics Limited, also based on public data and without company engagement. These ratings provide an independent assessment of the company's performance on sustainability parameters.

In other developments, MFSL's senior management is scheduled to participate in a Jefferies India Forum group meeting on September 18, 2026. The company has stated that no unpublished price-sensitive information will be discussed. Separately, on August 24, 2026, SEBI issued a final order related to a show cause notice dated October 24, 2024, disposing of proceedings against MFSL and 11 other noticees without imposing any penalty or directions. This regulatory matter has now been concluded for these parties.

- On September 18, 2026, Max Financial Services Limited received an ESG rating of 71/100 from Niche Ninety Nine Capability and Certifications (OPC) Private Limited, based on public data.
- On September 11, 2026, the company disclosed receiving an ESG rating of 70 and a Core ESG Rating of 77 from Crisil ESG Ratings & Analytics Limited, also based on public data.
- Max Financial Services Limited's senior management is scheduled to attend a Jefferies India Forum group meeting on September 18, 2026.
- On August 24, 2026, SEBI issued a final order disposing of proceedings related to a show cause notice dated October 24, 2024, against Max Financial Services Limited and 11 others, without imposing penalties or directions.

- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) ESG Rating'. |SUBJECT: Updates
- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) ESG Rating'. |SUBJECT: Updates
- Max Financial Services Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication
- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the extant provisions of the SEBI (Listing Obligations and Disclosure Requirements Regulations), 2015 ( SEBI Listing Regulations ) on receipt of Final Order from SEBI in relation to the Show Cause Notice issued on October 24, 2024'. |SUBJECT: Updates
- Max Financial Services Limited has informed the Exchange about the Transcript of Investors & Analysts Conference Call |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Max Financial Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 19, 2026 |SUBJECT: Shareholders meeting
- Max Financial Services Limited has informed the Exchange about a copy of the Newspaper Publication for of Unaudited Financial Results for the quarter ended June 30, 2026 |SUBJECT: Copy of Newspaper Publication
- Max Financial Services Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026. |SUBJECT: Outcome of Board Meeting
- Max Financial Services Limited has informed the Exchange about the link to the earnings call Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates

### Fundamentals

Max Financial Services (MFSL) reported varied earnings performance across recent quarters. For Q1 FY2026-27, the company posted Basic Earnings Loss Per Share of ₹2.78 per share, a significant improvement from a loss of ₹-0.77 per share in Q4 FY2025-26, and a positive shift from earnings of ₹1.07 per share in Q3 FY2025-26. Comprehensive income followed a similar trend, moving from a loss of -₹83.12 crore in Q4 FY2025-26 to a profit of ₹153.38 crore in Q1 FY2026-27. Expenses fluctuated, standing at ₹14,838.69 crore in Q1 FY2026-27, compared to ₹10,843.55 crore in Q4 FY2025-26 and ₹14,217.37 crore in Q3 FY2025-26. Tax expenses, both current and deferred, also showed fluctuations over these periods. Investors may want to monitor the consistency of earnings and expense management in upcoming quarters.

- Basic Earnings Loss Per Share was ₹2.78 per share in Q1 FY2026-27.
- Comprehensive Income for Q1 FY2026-27 was ₹153.38 crore.
- Expenses in Q1 FY2026-27 were ₹14,838.69 crore.
- Current Tax for Q1 FY2026-27 was ₹12.86 crore.
- Deferred Tax for Q1 FY2026-27 was ₹6.77 crore.

### Bull Case

Max Financial Services (MFSL) has shown a long-term positive return of 0.41 since its inception. While recent performance indicators suggest a bearish trend across daily, weekly, and monthly timeframes, the stock is currently trading near a resistance level of ₹1559.7, which is 0.04% above its current price. The company's performance is also influenced by broader market sentiment, with news indicating potential positive shifts for the life insurance sector, such as expectations of lower commission payments, which could benefit companies like HDFC Life and potentially others in the industry.

- The stock has achieved a cumulative return of 0.41 since its inception.
- The current trading price is ₹1559.0 as of 2026-09-18.
- A near-term resistance level is identified at ₹1559.7, representing a 0.04% increase from the current price.
- Market commentary suggests potential sector tailwinds for life insurance companies due to anticipated changes in commission payments.

- HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment
- HDFC Life, Britannia among stocks to buy | Kotak Securities' expert bullish on 3 shares for the short term

### Bear Case

The company's technical indicators suggest a cautious outlook. Daily and monthly trends are both indicated as bearish by the Supertrend indicator. The daily trend shows a negative slope in its short-term moving averages (EMA 20 and SMA 20), and the monthly trend also exhibits a negative EMA 20 slope. The stock is trading below its 200-day Simple Moving Average (SMA 200) of ₹1631.14. Furthermore, the stock has experienced a current drawdown of -17% and a maximum drawdown of -24%, indicating significant past price declines. Its annualized volatility stands at 26%.

- The Supertrend indicator signals a bearish trend on both daily and monthly timeframes as of 2026-09-18.
- The stock is trading below its 200-day SMA of ₹1631.14.
- The current drawdown is -17% with a maximum drawdown of -24%.
- Annualized volatility is recorded at 26%.

- HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment
- HDFC Life, Britannia among stocks to buy | Kotak Securities' expert bullish on 3 shares for the short term

### FAQs

**What recent regulatory actions have impacted Max Financial Services Limited?**

On August 24, 2026, SEBI issued a final order concerning a show cause notice dated October 24, 2024. This order disposed of proceedings against Max Financial Services Limited and 11 other parties without imposing any penalties or directions. Settlement applications from 13 additional present or former non-executive directors are still pending.

**What are Max Financial Services Limited's recent ESG ratings?**

On September 18, 2026, Max Financial Services Limited disclosed an ESG rating of 71 out of 100 from Niche Ninety Nine Capability and Certifications (OPC) Private Limited. This rating was based on public data without company engagement. Previously, on September 10, 2026, the company received an ESG rating of 70 and a Core ESG rating of 77 from Crisil ESG Ratings & Analytics Limited, also based on public data without company engagement.

**What is the recent technical outlook for Max Financial Services Limited?**

As of September 18, 2026, the daily trend for Max Financial Services Limited shows a closing price of ₹1559.0. The 20-day Exponential Moving Average (EMA) is ₹1521.24, and the 50-day EMA is ₹1542.6. The Supertrend indicator is at ₹1568.93, with a 'bearish' direction. On a weekly basis, the Supertrend is ₹1761.18, also indicating a 'bearish' direction.

**How has Max Financial Services Limited performed over different periods?**

As of September 18, 2026, Max Financial Services Limited's returns show a 0% return over the last day and 1% over the last 10 days. The return over the last month was -2%, and over the last 3 months was -8%. The year-to-date return was -7%, while the return since the start of trading was 41%.

- HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment
- HDFC Life, Britannia among stocks to buy | Kotak Securities' expert bullish on 3 shares for the short term
- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) ESG Rating'. |SUBJECT: Updates
- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) ESG Rating'. |SUBJECT: Updates
- Max Financial Services Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication
- Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the extant provisions of the SEBI (Listing Obligations and Disclosure Requirements Regulations), 2015 ( SEBI Listing Regulations ) on receipt of Final Order from SEBI in relation to the Show Cause Notice issued on October 24, 2024'. |SUBJECT: Updates
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Uptrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹1,532.37
- Risk regime: Price Risk Requires Attention

### Support levels
- 1559.6959564208985
- 1502.525
- 1483.225

### Resistance levels
- 1601.65625
- 1619
- 1635.8984130859376

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.32% |
| return_10 | +1.43% |
| return_1m | -1.61% |
| return_1y | +0.23% |
| return_20 | -1.02% |
| return_3m | -7.65% |
| return_5 | +5.34% |
| return_6m | -6.57% |
| return_since_start | +41.40% |
| return_ytd | -6.87% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -23.75% |
| annualized_volatility | +25.80% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Profit Recovers from Prior-Quarter Loss as Revenue Grows

Max Financial Services Limited reported a net profit of ₹118.29 crore for the first quarter of FY2026-27 ended June 30, 2026, compared with a loss of ₹31.52 crore in the preceding quarter and a profit of ₹86.45 crore in the year-ago quarter. Revenue from operations rose 16.8% year on year, while expenses rose 16.6%, leaving expenses just below revenue. Total comprehensive income was ₹153.38 crore, supported by a positive swing in other comprehensive income.

## Revenue and Expenses

Revenue from operations was ₹14,969.51 crore in the quarter, up 16.8% from ₹12,821.65 crore a year earlier and up 38.6% from ₹10,801.94 crore in the preceding quarter. Expenses were ₹14,838.69 crore, up 16.6% year on year and 36.8% sequentially.

Expenses were 99.1% of revenue from operations, compared with 99.2% in the same quarter last year and 100.4% in the previous quarter. The company’s revenue from operations exceeded expenses by ₹130.82 crore in the quarter; after adding other income of ₹7.10 crore, profit before tax was ₹137.92 crore. In the preceding quarter, revenue from operations was ₹41.61 crore below expenses.

## Profitability

Profit before tax improved to ₹137.92 crore from a loss of ₹38.07 crore in the previous quarter and a profit of ₹101.48 crore in the year-ago quarter. Net profit was ₹118.29 crore, compared with a loss of ₹31.52 crore in the previous quarter and a profit of ₹86.45 crore in the year-ago quarter.

Basic and diluted earnings per share were ₹2.78, compared with -₹0.77 in the previous quarter and ₹2.03 in the year-ago quarter. Other income was ₹7.10 crore in the quarter, up from ₹3.25 crore a year earlier and ₹3.54 crore in the preceding quarter.

## Comprehensive Income, Tax, and Finance Costs

Total comprehensive income was ₹153.38 crore, up 60.8% from ₹95.41 crore a year earlier and a turnaround from -₹83.12 crore in the preceding quarter. Other comprehensive income was ₹35.09 crore, compared with ₹8.96 crore a year earlier and -₹51.60 crore in the preceding quarter. Net profit and other comprehensive income together accounted for the ₹153.38 crore total.

Tax expense was ₹19.63 crore, compared with ₹14.50 crore in the year-ago quarter and a tax benefit of ₹4.87 crore in the preceding quarter. The tax expense was about 14% of profit before tax, similar to the year-ago quarter. Finance costs were ₹35.53 crore, up from ₹19.68 crore a year earlier and little changed from ₹35.13 crore in the previous quarter.

## Key Takeaway

The quarter moved from a loss to a profit as revenue from operations grew and expenses remained slightly below revenue. The improvement in profit was accompanied by a positive swing in other comprehensive income, lifting total comprehensive income above both the previous quarter and the year-ago level.

### Ratios

## Official filings

- 2026-09-18 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_18092026123024_SEDMFSLESGRATING18092026.pdf)
- 2026-09-11 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_11092026144528_SEDMFSLESGRATING11092026.pdf)
- 2026-09-09 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_09092026125157_SEDMFSL09092026.pdf)
- 2026-08-25 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_25082026105044_SEDMFSL25082026.pdf)
- 2026-08-25 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_25082026121247_SEDMAXFINANCIAL.pdf)
- 2026-08-20 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_20082026160820_TRANSCRIPTOFEARNINGSCALL.pdf)
- 2026-08-19 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_19082026165145_AGMPROCEEDINGSMFSL19082026.pdf)
- 2026-08-15 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_15082026112648_SEDADVERTISEMENT.pdf)
- 2026-08-13 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026183751_FINRESULTS30062026.pdf)
- 2026-08-13 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026215852_AUDIORECORDING.pdf)
- 2026-08-13 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026190939_SEDREG30.pdf)
- 2026-08-13 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026184132_FINRESULTS30062026.pdf)
- 2026-08-13 — Earnings Presentation: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026184640_INVESTORRESENTATIONQ1FY27.pdf)
- 2026-08-13 — Press Release: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_13082026185226_PRESSRELEASEQ1FY27.pdf)
- 2026-08-08 — Generic Announcement: Max Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_08082026163644_SEDMFL08082026.pdf)
- 2026-08-07 — Generic Announcement: Max Financial Services Limited senior management will participate in investor conferences on August 14, 2026, in Mumbai with Emkay Global and on August 18, 2026, in Singapore with Axis Capital. No unpublished price-sensitive information will be discussed. An investor presentation is available on the company's website and stock exchanges. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_07082026161402_SEDMFSL.pdf)
- 2026-08-04 — Generic Announcement: Max Financial Services Limited, through its material subsidiary Axis Max Life Insurance Limited, has completed the redemption of 4,960 non-convertible debentures (ISIN INE511N08016) at par, along with accrued interest. The redemption was exercised via a call option, with payments made on July 31, 2026, and July 16, 2026, respectively, adjusted for non-business days. This action is in compliance with SEBI LODR regulations and the terms of the debenture trust deed. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_04082026114410_SEDMFSL.pdf)
- 2026-08-04 — Generic Announcement: Max Financial Services Limited will host an earnings conference call on August 13, 2026, at 7:00 PM IST to discuss its Q1 FY27 financial results. Senior management from Max Financial Services Limited and Axis Max Life Insurance Limited will participate in the virtual event. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_04082026114603_SEDEARNINGCALL.pdf)
- 2026-08-01 — Generic Announcement: Axis Max Life Insurance Limited, a material subsidiary of Max Financial Services Limited, made an interest and redemption payment on July 31, 2026, to holders of its unsecured, subordinated, listed, rated, redeemable, non-cumulative, taxable, non-convertible debentures (ISIN INE511N08016). The payment was made on the preceding business day as the due date, August 2, 2026, fell on a non-business day. The record date for this payment was July 16, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_01082026111427_SEDMFSL.pdf)
- 2026-07-28 — Generic Announcement: Max Financial Services Limited has completed the dispatch of its Annual Report for FY2026 and the Notice for its 38th Annual General Meeting. The dispatch was confirmed through newspaper advertisements published on July 28, 2026, in Business Standard and Punjab Kesri. The 38th AGM is scheduled for August 19, 2026, and will be held via Video Conferencing/Other Audio Visual Means. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_28072026104833_SEDADVPOST.pdf)
- 2026-07-27 — Generic Announcement: Max Financial Services Limited (MFSL) announced its 38th Annual General Meeting (AGM) will be held on August 19, 2026, via Video Conference. The Annual Report for FY 2025-26 and the AGM notice are being distributed electronically. The company's Register of Members and Share Transfer Books will be closed from August 13 to August 19, 2026, for the AGM. Remote e-voting will be open from August 15 to August 18, 2026, for shareholders of record as of August 12, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_27072026141552_SEDANNUALREPORT2026.pdf)
- 2026-07-27 — Official Filing: Max Financial Services Limited will hold its 38th Annual General Meeting on Wednesday, August 19, 2026, at 10:00 AM in Noida, conducted via Video Conference or Other Audio-Visual Means. The agenda includes adopting the audited standalone and consolidated financial statements for the year ended March 31, 2026, re-appointing Mr. Analjit Singh as a Director, and approving remuneration for Independent Directors Mr. Jai Arya (INR 2,000,000) and Sir Richard Stagg (INR 2,000,000).
- 2026-07-27 — Generic Announcement: Max Financial Services Limited (MFSL) announced its 38th Annual General Meeting (AGM) will be held on August 19, 2026, via Video Conference. The Annual Report for FY 2025-26 and the AGM notice are being distributed electronically. The company's Register of Members and Share Transfer Books will be closed from August 13 to August 19, 2026, for the AGM. Remote e-voting will be open from August 15 to August 18, 2026, for shareholders of record as of August 12, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_27072026142504_SEDANNUALREPORT2026.pdf)
- 2026-07-27 — Generic Announcement: Max Financial Services Limited (MFSL) announced its 38th Annual General Meeting (AGM) will be held on August 19, 2026, via Video Conference. The Annual Report for FY 2025-26 and the AGM notice are being distributed electronically. The company's Register of Members and Share Transfer Books will be closed from August 13 to August 19, 2026, for the AGM. Remote e-voting will be open from August 15 to August 18, 2026, for shareholders of record as of August 12, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_27072026140249_SEDANNUALREPORT2026.pdf)
- 2026-07-27 — Generic Announcement: Max Financial Services Limited (MFSL) and its subsidiary Axis Max Life Insurance Limited (AMLI) have submitted their Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report, which is part of the Annual Report, details the company's performance and commitments across various ESG principles, including business conduct, employee engagement, data privacy, and environmental impact. Key targets for FY2026 included achieving 95% digital penetration and 30% gender diversity, with actual figures reported as 94.21% and 29.3% respectively. The company also reported an average of 94 learning hours per employee, exceeding its target of 40 hours. — [Official attachment](https://nsearchives.nseindia.com/corporate/Max_27072026135416_SEDBRSRMFSL2026.pdf)

## News and market events

- 2026-09-17 — MONEYCONTROL: **HDFC Life, other life insurance companies' stocks rise up to 7% on hope of lower commission payment** — HDFC share price, SBI Life shares today — [Source](https://www.moneycontrol.com/news/business/markets/hdfc-life-other-life-insurance-companies-stocks-rise-up-to-7-on-hope-of-lower-commission-payment-14032087.html)
- 2026-09-17 — Mint: **HDFC Life, Britannia among stocks to buy | Kotak Securities' expert bullish on 3 shares for the short term** — As the Indian stock market displays signs of recovery, Kotak Securities' Amol Athawale identifies three top picks for short-term investments. Discover how these stocks are poised for potential gains despite current market turbulence. — [Source](https://www.livemint.com/market/stock-market-news/hdfc-life-britannia-among-stocks-to-buy-kotak-securities-expert-bullish-on-3-shares-for-the-short-term-11789613690408.html)
- 2026-09-08 — Mint: **Which mid-cap stocks are fund managers chasing? Federal Bank leads the list, Swiggy enters top 10 | Mint** — Fund managers are reshuffling their mid-cap bets, with some stocks gaining traction. The July portfolio disclosures of actively managed funds reveal the changing favourites and offer clues about where institutional interest is building. — [Source](https://www.livemint.com/money/personal-finance/which-mid-cap-stocks-are-fund-managers-chasing-federal-bank-leads-the-list-swiggy-enters-top-10-11788883112167.html)
- 2026-09-08 — Economic Times: **Life insurers' new business premium up 33% in August** — Life insurers displayed impressive growth in new business premiums for August, with an overall year-on-year increase of thirty-three percent. This surge was predominantly driven by the single-premium and group business sectors, although retail-weighted premiums grew at a more moderate rate. Experts in the industry predict a return to more typical growth patterns in the following months. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/life-insurers-new-business-premium-up-33-in-august/articleshow/133903501.cms)
- 2026-08-24 — Mint: **Sebi drops fraud, disclosure charges in Max-Axis Bank case** — Sebi said the disclosure-related charges could not be sustained because there was no material establishing violations of the specific provisions applicable at the time. — [Source](https://www.livemint.com/market/sebi-drops-fraud-disclosure-charges-in-max-axis-bank-case-11787591557710.html)
- 2026-08-24 — MONEYCONTROL: **SEBI drops proceedings against Max Financial, Axis entities in Max Life share deal** — SEBI, max financial, max life, india — [Source](https://www.moneycontrol.com/news/business/markets/sebi-drops-proceedings-against-max-financial-axis-entities-in-max-life-share-deal-14014387.html)
- 2026-08-21 — Economic Times: **Protection, annuity more relevant in insurance products: Sumit Madan, MD & CEO, Axis Max Life** — While things are changing, insurance is still seen as a bit of a savings and tax product. We are focusing on making protection and annuity more relevant across proprietary and partnership channels, where we are looking at growth of 15% or 16%. The discussion is around protection rather than just premium. We've started focusing very sharply on the young Indian middle clas, says Sumit Madan. — [Source](https://economictimes.indiatimes.com/markets/expert-view/protection-annuity-more-relevant-in-insurance-products-sumit-madan-md-ceo-axis-max-life/articleshow/133390261.cms)
- 2026-08-14 — The Hindu: **Q1 Results Today Live: Anupam Rasayan PAT up marginally, Ashok Leyland, NMDC, Alkem Lab, BDL, Voltas, 3M India, Cochin Shipyard, Physicswallah, Cholamandalam Fin, PTC Ind, Natco Pharma, Borosil to announce Q1 results, TMPV, Max Health lead Nifty 50 losers after Q1, Page Ind, Jubilant, LG Electronics, Honasa shares zoom** — Q1 Results Today, 14th August 2026 Live Updates:  Follow Q1FY27 live updates from businessline — [Source](https://www.thehindubusinessline.com/markets/q1-results-today-live-updates-ashok-leylad-nmdc-alkem-lab-bharat-dynamics-voltas-3m-india-cochin-shipyard-physicswallah-cholamandalam-fin-ptc-ind-natco-pharma-tmpv-results-14-august-2026/article71340415.ece)
- 2026-08-14 — BUSINESSTODAY: **Top stocks in news: Tata Motors PV, LEAP, Technocraft, AB Real Estate, Max Fin, LG India** — Stocks in news, Stocks in buzz, Stocks to buy, Stocks to watch, Tata Motors Passenger Vehicles, LEAP India, Technocraft Ventures, Aditya Birla Real Estate, Max Financial Services, LG Electronics India, KRBL, Honasa Consumer, Brigade Enterprises, Welspun Living, Indigo Paints — [Source](https://www.businesstoday.in/markets/stocks/story/top-stocks-in-news-tata-motors-pv-leap-technocraft-ab-real-estate-max-fin-lg-india-549103-2026-08-14)
- 2026-08-14 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty futures hint at a negative start as mkt reach end of earnings** — Sensex Today | Stock Market LIVE Updates: As the earnings season comes to a close, markets will now look at macro factors, with the conflict in the Persian Gulf and the stalemate there holding the potential to induce volatility. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-sensex-hdfc-bank-nifty-bank-q1-earnings-tata-motors-max-fin-defence-bdl-share-price-liveblog-19969121.htm)
- 2026-08-13 — CNBC-TV18: **Stocks to Watch for August 14: Tata Motors PV, LG Electronics, Honasa Consumer, Max Fin Services and more** — From Honasa Consumer reporting a 118.4% year-on-year rise in net profit to Birla Estates entering Navi Mumbai’s redevelopment market with a Vashi housing project, these are the stocks to track ahead of Friday’s trading session. Investors will also watch Borosil, Cochin Shipyard and CSM Technologies, which are scheduled to announce their June-quarter results tomorrow. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-august-14-tata-motors-pv-lg-electronics-honasa-consumer-max-fin-services-and-more-19968900.htm)
- 2026-08-13 — CNBC-TV18: **Max Financial Q1 APE rises 15%, VNB surges 33% on strong protection, health and annuity growth** — Shares of Max Financial Services Ltd ended at ₹1,510.10, down by ₹13.90, or 0.91%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/max-financial-services-share-price-q1-ape-rises-15-vnb-surges-33-on-strong-protection-health-and-annuity-growth-19968931.htm)
- 2026-08-13 — CNBC-TV18: **Q1 Results LIVE Updates: Max Financial Services VNB rises 33%; KRBL profit jumps 73.2%** — Q1 Results LIVE Updates: Tata Motors PV, Page Industries, JSW Cement, Aditya Birla Real Estate, Avanti Feeds, Dreamfolks, Godrej Industries, IGL, Indigo Paints, IPCA Labs, Jubilant Foodworks, LG Electronics India, Max Financial Services, Olectra Industries, VST Tillers, Welspun Living, Solar Industries, are among the companies reporting their first quarter earnings today. Earnings reactions also come from Tata Motors CV, Lenskart, Apollo Hospitals among many other stocks. Watch this space for all the LIVE Q1 result updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-today-tata-motors-page-industries-abrel-jsw-cement-lenskart-petronet-astral-igl-ipca-share-price-liveblog-19968129.htm)
- 2026-08-12 — CNBC-TV18: **Market Pulse: Key triggers to watch before the August 13 trading session** — Good news for Indian investors and markets as US stocks trade higher, supported by a softer US inflation reading and gains in technology stocks. However, India's retail inflation edged higher in July, with food inflation emerging as a key pressure point. Meanwhile, N Chandrasekaran's decision to step down as Tata Sons chairman could weigh on Tata Group stocks and remain a key market focus. — [Source](https://www.cnbctv18.com/photos/market/market-pulse-key-triggers-to-watch-before-the-august-13-trading-session-19968004.htm)
- 2026-07-24 — Mint: **The Street resets its Nifty 500 bets. Here are the winners** — The optimism reflects the underperformance of Indian equities relative to other emerging markets and the US, along with a moderation in valuations. — [Source](https://www.livemint.com/market/stock-market-news/the-street-resets-its-nifty-500-bets-here-are-the-winners-indian-stock-market-11784798077110.html)
- 2026-07-23 — CNBC-TV18: **Life Insurance stocks in India aren't rising as fast they used to despite good growth** — Data shows that investors are willing to pay much less for the future profits of life insurance players than what they did about a decade ago. What explains this derating? — [Source](https://www.cnbctv18.com/market/stocks/life-insurance-stocks-in-india-arent-rising-as-fast-they-used-to-despite-good-growth-19952193.htm)
- 2026-07-19 — Economic Times: **Axis Bank weighs raising stake in its insurance venture to 30%** — In June 2026, Axis Bank announced a further investment of up to ?381 crore in Axis Max Life Insurance, taking the combined shareholding of Axis Bank and its subsidiaries-Axis Capital and Axis Securities-from 19.02% to 19.99%. Max Financial Services holds 80.01%. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-weighs-raising-stake-in-its-insurance-venture-to-30/articleshow/132501165.cms)

## Business profile

**Strategic vision:** Indian holding company focused on life insurance sector.

### Business segments
- **Life Insurance:** Offers comprehensive protection and long-term savings life insurance solutions through Axis Max Life Insurance Company Limited.

### Competitive strengths
- Partnership with a large private sector bank for distribution.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/mfsl
Markdown representation: https://faxioms.com/stocks/mfsl?render=md