{"id":135720,"date":"2026-06-30T16:50:31","date_gmt":"2026-06-30T11:20:31","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=135720"},"modified":"2026-10-06T16:26:31","modified_gmt":"2026-10-06T10:56:31","slug":"max-financial-services-share-price-target-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/","title":{"rendered":"Max Financial Services Share Price Target 2026: Stock Analysis, Share Price Today, Bull Case and Bear Case After Q1 FY27"},"content":{"rendered":"<div class=\"meta-block\">\n<p><strong>META TITLE:<\/strong> Max Financial Services Share Price Target 2026: Rs 1,295 to 1,480<\/p>\n<p><strong>META DESCRIPTION:<\/strong> Max Financial Services share price target 2026: Rs 1,295 to Rs 1,480 vs Rs 1,361. Share price today, stock analysis, buy or sell, bull and bear case, 12-month target.<\/p>\n<p><strong>SLUG:<\/strong> max-financial-services-share-price-target-2026<\/p>\n<p><strong>PRIMARY KEYWORD:<\/strong> Max Financial Services share price target<\/p>\n<p><strong>SECONDARY KEYWORDS:<\/strong> Max Financial Services share price today, Max Financial Services stock analysis, Max Financial Services buy or sell, Max Financial Services share price forecast, Max Financial Services stock price target 2027, Max Financial Services price target, Max Financial Services buy or sell<\/p>\n<p><strong>LSI KEYWORDS:<\/strong> analyst consensus, bull case, bear case, 12-month target, PE multiple, EPS estimate, sector tailwinds, institutional holding, resistance level, FY27 outlook<\/p>\n<\/div>\n<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Max Financial Services Rs 1,361 (6 Oct 2026 close). 52-week range Rs 1,330.20 to Rs 1,892.50. Q1 FY27 VNB Rs 446 cr, up 33%.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Max Financial Services share price target for 2026 is Rs 1,295 to Rs 1,480, which is between 5 percent below and 9 percent above the last close of Rs 1,361.00, with bull and bear cases of Rs 1,700 to Rs 1,900 and Rs 935 to Rs 1,105. Max Financial Services reported Q1 FY27 consolidated revenue excluding investment income up 18 percent to Rs 7,289 crore, and its subsidiary Axis Max Life posted value of new business up 33 percent to Rs 446 crore with a margin of 23.2 percent. The board has approved merging Max Financial into Axis Max Life, subject to approvals, and the stock fell over 10 percent on 24 September to a 52-week low, so the ranges use price to book value. No brokerage price target was available on the sources we track as of 6 October 2026, so every range below is a Univest research scenario.<\/p>\n<\/p><\/div>\n<p>The <a href=\"https:\/\/univest.in\/stocks\/mfsl\/max-financial-services-ltd-share-price-today\">Max Financial Services<\/a> share price target for 2026 is Rs 1,295 to Rs 1,480 in the Univest base case, with the stock at Rs 1,361.00 at the 6 October 2026 close. That is 28.1 percent below its 52-week high of Rs 1,892.50 and 2.3 percent above its 52-week low of Rs 1,330.20, and the stock moved down 14.0 percent over the past year. Max Financial Services is a holding company that owns about 82 percent of Axis Max Life Insurance, in which Axis Bank holds 19.99 percent. Debt to equity is 0.35 and the company pays no dividend.<\/p>\n<p>Three things changed since the last update: Q1 FY27 results on 13 August showed value of new business up 33 percent, management said the path to simplify the group structure is clear, and the stock fell to a 52-week low in September and again in early October. This Max Financial Services stock analysis covers the Max Financial Services share price today, the Max Financial Services share price target for 2026, 2027 and 2030, the Q1 FY27 numbers, catalysts and risks, key price levels and a Max Financial Services buy or sell view.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=max-financial-share-price-target\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_Is_the_Max_Financial_Services_Share_Price_Target_for_2026\" title=\"What Is the Max Financial Services Share Price Target for 2026?\">What Is the Max Financial Services Share Price Target for 2026?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Max_Financial_Services_Share_Price_Target_Scenarios_Bull_Case_Base_Case_and_Bear_Case\" title=\"Max Financial Services Share Price Target Scenarios: Bull Case, Base Case and Bear Case\">Max Financial Services Share Price Target Scenarios: Bull Case, Base Case and Bear Case<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Max_Financial_Services_Company_Overview_and_Share_Price_Today_as_of_6_October_2026\" title=\"Max Financial Services Company Overview and Share Price Today as of 6 October 2026\">Max Financial Services Company Overview and Share Price Today as of 6 October 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#How_Did_Max_Financial_Services_Perform_in_Q1_FY27\" title=\"How Did Max Financial Services Perform in Q1 FY27?\">How Did Max Financial Services Perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Why_Did_Max_Financial_Services_Share_Price_Hit_a_52-Week_Low_in_September\" title=\"Why Did Max Financial Services Share Price Hit a 52-Week Low in September?\">Why Did Max Financial Services Share Price Hit a 52-Week Low in September?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Key_Catalysts_for_the_Max_Financial_Services_Share_Price_Target_in_2026\" title=\"Key Catalysts for the Max Financial Services Share Price Target in 2026\">Key Catalysts for the Max Financial Services Share Price Target in 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#1_Margin_Expansion\" title=\"1. Margin Expansion\">1. Margin Expansion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#2_Value_of_New_Business\" title=\"2. Value of New Business\">2. Value of New Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#3_Axis_Bank_Stake\" title=\"3. Axis Bank Stake\">3. Axis Bank Stake<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#4_Structure_Simplification\" title=\"4. Structure Simplification\">4. Structure Simplification<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_Are_the_Key_Risks_to_the_Max_Financial_Services_Share_Price_Target\" title=\"What Are the Key Risks to the Max Financial Services Share Price Target?\">What Are the Key Risks to the Max Financial Services Share Price Target?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Merger_Terms\" title=\"Merger Terms\">Merger Terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Regulatory_Approvals\" title=\"Regulatory Approvals\">Regulatory Approvals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Persistency\" title=\"Persistency\">Persistency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#High_Price_to_Book\" title=\"High Price to Book\">High Price to Book<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Max_Financial_Services_Stock_Analysis_Support_and_Resistance_Levels_for_the_Share_Price_Target\" title=\"Max Financial Services Stock Analysis: Support and Resistance Levels for the Share Price Target\">Max Financial Services Stock Analysis: Support and Resistance Levels for the Share Price Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Max_Financial_Services_Share_Price_Target_2026_2027_and_2030_Short_Medium_and_Long_Term\" title=\"Max Financial Services Share Price Target 2026, 2027 and 2030: Short, Medium and Long Term\">Max Financial Services Share Price Target 2026, 2027 and 2030: Short, Medium and Long Term<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Short-Term_Max_Financial_Services_Share_Price_Target_3_to_6_Months\" title=\"Short-Term Max Financial Services Share Price Target (3 to 6 Months)\">Short-Term Max Financial Services Share Price Target (3 to 6 Months)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#12-Month_and_2027_Max_Financial_Services_Share_Price_Target\" title=\"12-Month and 2027 Max Financial Services Share Price Target\">12-Month and 2027 Max Financial Services Share Price Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Long-Term_Max_Financial_Services_Share_Price_Target_for_FY29_to_2030\" title=\"Long-Term Max Financial Services Share Price Target for FY29 to 2030\">Long-Term Max Financial Services Share Price Target for FY29 to 2030<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Bull_Case_and_Bear_Case_for_Max_Financial_Services_Share_Price_Target\" title=\"Bull Case and Bear Case for Max Financial Services Share Price Target\">Bull Case and Bear Case for Max Financial Services Share Price Target<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Bull_Case_Rs_1700_to_Rs_1900\" title=\"Bull Case Rs 1,700 to Rs 1,900\">Bull Case Rs 1,700 to Rs 1,900<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Bear_Case_Rs_935_to_Rs_1105\" title=\"Bear Case Rs 935 to Rs 1,105\">Bear Case Rs 935 to Rs 1,105<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Is_Max_Financial_Services_a_Good_Buy_at_Rs_1361_Max_Financial_Services_Buy_or_Sell_View\" title=\"Is Max Financial Services a Good Buy at Rs 1,361? Max Financial Services Buy or Sell View\">Is Max Financial Services a Good Buy at Rs 1,361? Max Financial Services Buy or Sell View<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#How_to_Invest_in_Max_Financial_Services_Shares\" title=\"How to Invest in Max Financial Services Shares\">How to Invest in Max Financial Services Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#FAQs_on_Max_Financial_Services_Share_Price_Target_2026\" title=\"FAQs on Max Financial Services Share Price Target 2026\">FAQs on Max Financial Services Share Price Target 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_is_the_Max_Financial_Services_share_price_target_for_2026\" title=\"What is the Max Financial Services share price target for 2026?\">What is the Max Financial Services share price target for 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_is_the_Max_Financial_Services_share_price_target_for_2027\" title=\"What is the Max Financial Services share price target for 2027?\">What is the Max Financial Services share price target for 2027?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Is_Max_Financial_Services_a_good_buy_at_Rs_136100\" title=\"Is Max Financial Services a good buy at Rs 1,361.00?\">Is Max Financial Services a good buy at Rs 1,361.00?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_are_the_key_risks_to_the_Max_Financial_Services_share_price_target\" title=\"What are the key risks to the Max Financial Services share price target?\">What are the key risks to the Max Financial Services share price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_are_the_key_catalysts_for_the_Max_Financial_Services_share_price_target\" title=\"What are the key catalysts for the Max Financial Services share price target?\">What are the key catalysts for the Max Financial Services share price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#Where_can_I_track_Max_Financial_Services_share_price_today_and_Max_Financial_Services_share_price_target_updates\" title=\"Where can I track Max Financial Services share price today and Max Financial Services share price target updates?\">Where can I track Max Financial Services share price today and Max Financial Services share price target updates?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#What_are_Max_Financial_Servicess_52-week_high_and_low\" title=\"What are Max Financial Services&#8217;s 52-week high and low?\">What are Max Financial Services&#8217;s 52-week high and low?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/univest.in\/blogs-2\/max-financial-services-share-price-target-2026\/#How_to_buy_Max_Financial_Services_shares\" title=\"How to buy Max Financial Services shares?\">How to buy Max Financial Services shares?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_the_Max_Financial_Services_Share_Price_Target_for_2026\"><\/span><strong>What Is the Max Financial Services Share Price Target for 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 2026 target for Max Financial Services shares is Rs 1,295 to Rs 1,480 in the Univest base case, which is -4.8% to +8.7% against the last close. The bull case is Rs 1,700 to Rs 1,900 and the bear case is Rs 935 to Rs 1,105. No brokerage price target was available on the sources we track as of 6 October 2026, so every range below is a Univest research scenario. Analyst consensus is used as a cross-check, not as the base.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Max_Financial_Services_Share_Price_Target_Scenarios_Bull_Case_Base_Case_and_Bear_Case\"><\/span><strong>Max Financial Services Share Price Target Scenarios: Bull Case, Base Case and Bear Case<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table>\n<tr>\n<th>Scenario<\/th>\n<th>FY28E Book Value<\/th>\n<th>Target Multiple<\/th>\n<th>Price Target (Rs)<\/th>\n<th>Move vs Rs 1,361.00<\/th>\n<\/tr>\n<tr>\n<td>Bull Case<\/td>\n<td>Rs 200<\/td>\n<td>8.5x to 9.5x<\/td>\n<td>1,700 to 1,900<\/td>\n<td>+24.9% to +39.6%<\/td>\n<\/tr>\n<tr>\n<td>Base Case<\/td>\n<td>Rs 185<\/td>\n<td>7x to 8x<\/td>\n<td>1,295 to 1,480<\/td>\n<td>-4.8% to +8.7%<\/td>\n<\/tr>\n<tr>\n<td>Bear Case<\/td>\n<td>Rs 170<\/td>\n<td>5.5x to 6.5x<\/td>\n<td>935 to 1,105<\/td>\n<td>-31.3% to -18.8%<\/td>\n<\/tr>\n<\/table>\n<p>Trailing PE of 338 times reflects a very small holding company profit, so the ranges use price to book value with a Univest assumption of Rs 185 per share for FY28. The base case of 7 to 8 times is below the current 8.8 times, as the market may price in merger terms. The PE multiple is not comparable because profit is tiny against insurance value, so the table uses price to book in place of an EPS estimate, and the book value is a Univest assumption, not company guidance. Those assumptions set the Max Financial Services share price target range around the current price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Max_Financial_Services_Company_Overview_and_Share_Price_Today_as_of_6_October_2026\"><\/span><strong>Max Financial Services Company Overview and Share Price Today as of 6 October 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Max Financial Services share price today is Rs 1,361.00 on the NSE at the 6 October 2026 close, before the market opens on 7 October. The market capitalisation is Rs 46,487 crore, and trailing earnings are tiny, so the stock trades on the value of its insurance subsidiary. The Univest base case Max Financial Services share price target of Rs 1,295 to Rs 1,480 is -4.8% to +8.7% from here. The table below sets out the key numbers behind the Max Financial Services share price target.<\/p>\n<table>\n<tr>\n<th>Parameter<\/th>\n<th>Value<\/th>\n<th>Context<\/th>\n<\/tr>\n<tr>\n<td>NSE Ticker<\/td>\n<td>MFSL<\/td>\n<td>BSE code 500271<\/td>\n<\/tr>\n<tr>\n<td>Sector<\/td>\n<td>Life insurance holding company<\/td>\n<td>Per Univest sector classification<\/td>\n<\/tr>\n<tr>\n<td>Last Close (NSE)<\/td>\n<td>Rs 1,361.00<\/td>\n<td>6 Oct 2026 close<\/td>\n<\/tr>\n<tr>\n<td>52-Week High<\/td>\n<td>Rs 1,892.50<\/td>\n<td>CMP is 28.1% below<\/td>\n<\/tr>\n<tr>\n<td>52-Week Low<\/td>\n<td>Rs 1,330.20<\/td>\n<td>CMP is 2.3% above<\/td>\n<\/tr>\n<tr>\n<td>1-Year Return<\/td>\n<td>About -14%<\/td>\n<td>Weekly close Rs 1581.7 on 10 Oct 2025 to Rs 1361<\/td>\n<\/tr>\n<tr>\n<td>Market Capitalisation<\/td>\n<td>Rs 46,487 crore<\/td>\n<td>Large cap insurance holding company<\/td>\n<\/tr>\n<tr>\n<td>Trailing P\/E<\/td>\n<td>About 338x (not comparable)<\/td>\n<td>Industry P\/E about 17.61x<\/td>\n<\/tr>\n<tr>\n<td>P\/B Ratio<\/td>\n<td>About 8.80x<\/td>\n<td>Book value Rs 153.05 per share<\/td>\n<\/tr>\n<tr>\n<td>EPS (TTM)<\/td>\n<td>Rs 3.98<\/td>\n<td>Trailing twelve months<\/td>\n<\/tr>\n<tr>\n<td>Return on Equity<\/td>\n<td>About 1.6%<\/td>\n<td>Debt to equity 0.35<\/td>\n<\/tr>\n<tr>\n<td>Dividend Yield<\/td>\n<td>Nil<\/td>\n<td>No dividend<\/td>\n<\/tr>\n<tr>\n<td>12-Month Target (Base Case)<\/td>\n<td>Rs 1,295 to Rs 1,480<\/td>\n<td>Univest base case<\/td>\n<\/tr>\n<tr>\n<td>Bull Case<\/td>\n<td>Rs 1,700 to Rs 1,900<\/td>\n<td>+24.9% to +39.6%<\/td>\n<\/tr>\n<tr>\n<td>Bear Case<\/td>\n<td>Rs 935 to Rs 1,105<\/td>\n<td>-31.3% to -18.8%<\/td>\n<\/tr>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track live price, fundamentals and results for Max Financial Services on the Univest Screener.<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Did_Max_Financial_Services_Perform_in_Q1_FY27\"><\/span><strong>How Did Max Financial Services Perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Max Financial Services reported Q1 FY27 consolidated revenue excluding investment income of Rs 7,289 crore, up 18 percent. Axis Max Life&#8217;s value of new business rose 33 percent to Rs 446 crore from Rs 335 crore and beat the poll estimate of Rs 398 crore. Together these Q1 FY27 numbers anchor the Max Financial Services share price target.<\/p>\n<table>\n<tr>\n<th>Metric<\/th>\n<th>Q1 FY27<\/th>\n<th>Context<\/th>\n<\/tr>\n<tr>\n<td>Consolidated Revenue (Ex Investment Income)<\/td>\n<td>Rs 7,289 crore<\/td>\n<td>Up 18% YoY<\/td>\n<\/tr>\n<tr>\n<td>Value of New Business<\/td>\n<td>Rs 446 crore<\/td>\n<td>Up 33% from Rs 335 crore<\/td>\n<\/tr>\n<tr>\n<td>New Business Margin<\/td>\n<td>23.2%<\/td>\n<td>Up 315 bps from 20.1%<\/td>\n<\/tr>\n<tr>\n<td>Gross Written Premium<\/td>\n<td>Rs 7,607 crore<\/td>\n<td>Up 19%; renewal up 20%<\/td>\n<\/tr>\n<tr>\n<td>Individual Adjusted FYP<\/td>\n<td>Rs 1,810 crore<\/td>\n<td>Up 17%; private market share 10.1%<\/td>\n<\/tr>\n<tr>\n<td>13-Month Persistency<\/td>\n<td>83%<\/td>\n<td>AUM above Rs 2 lakh crore<\/td>\n<\/tr>\n<\/table>\n<p>Protection and health grew 44 percent and annuities grew 116 percent, which lifted margin. Axis Bank is evaluating raising its stake in Axis Max Life from 19.99 percent toward 30 percent, and the board has approved merging Max Financial into Axis Max Life, subject to approvals. The FY27 outlook from management is the main input for these estimates. These numbers sit behind every range in the scenario table above, so they anchor the Max Financial Services share price target.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Did_Max_Financial_Services_Share_Price_Hit_a_52-Week_Low_in_September\"><\/span><strong>Why Did Max Financial Services Share Price Hit a 52-Week Low in September?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Max Financial Services shares are about 28 percent below the Rs 1,892.50 high of the week of 23 February 2026. The stock fell 6.5 percent in the week of 21 September on volume of 1.62 crore shares, then dropped over 10 percent intraday on 24 September on heavy institutional selling.<\/p>\n<p>The week ended at Rs 1,451, down 7.9 percent, and the stock fell another 4.5 percent and 2.2 percent in the next two weeks to Rs 1,330.20. No company announcement was identified behind the fall, and merger terms remain an open worry. The Max Financial Services share price target scenarios below account for that move.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Catalysts_for_the_Max_Financial_Services_Share_Price_Target_in_2026\"><\/span><strong>Key Catalysts for the Max Financial Services Share Price Target in 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>4 catalysts matter most for the Max Financial Services share price target, and sector tailwinds in Life insurance holding company are part of the case. Together they decide whether the base case is reached.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Margin_Expansion\"><\/span><strong>1. Margin Expansion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>New business margin rose 315 bps to 23.2 percent on a higher protection and annuity mix. If it plays out, the Max Financial Services share price target moves toward the top of the base range.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Value_of_New_Business\"><\/span><strong>2. Value of New Business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Value of new business grew 33 percent against 15 percent growth in APE. Faster VNB growth lifts embedded value. Strength here would support the upper end of the Max Financial Services share price target.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Axis_Bank_Stake\"><\/span><strong>3. Axis Bank Stake<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Axis Bank is evaluating a stake of up to 30 percent in Axis Max Life. A larger stake would deepen distribution. Delivery on this point keeps the Max Financial Services share price target on track.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Structure_Simplification\"><\/span><strong>4. Structure Simplification<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Merging the holding company into the insurer would remove the holding discount, if terms are fair. Better news here would lift the Max Financial Services share price target toward the bull case.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_the_Key_Risks_to_the_Max_Financial_Services_Share_Price_Target\"><\/span><strong>What Are the Key Risks to the Max Financial Services Share Price Target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The main risks are merger terms, regulatory approvals, persistency and a high price to book value. Each can pull the Max Financial Services share price target lower.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Merger_Terms\"><\/span><strong>Merger Terms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The swap ratio is not yet known. Terms seen as unfair would hit the stock. If it materialises, the Max Financial Services share price target would slip toward the bear case.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Regulatory_Approvals\"><\/span><strong>Regulatory Approvals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The amalgamation needs regulatory and stakeholder approvals. Delays or changes would keep the stock under pressure. This is the main downside risk to the Max Financial Services share price target.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Persistency\"><\/span><strong>Persistency<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>13-month persistency is 83 percent and was under pressure earlier. A fall would cut value. A worsening here would cut the Max Financial Services share price target toward the low end of the range.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"High_Price_to_Book\"><\/span><strong>High Price to Book<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The stock trades at 8.8 times book value. A fall to 5.5 times book value of Rs 170 would put the price near Rs 935. Watch it closely, because it can pull the Max Financial Services share price target lower quickly.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Max_Financial_Services_Stock_Analysis_Support_and_Resistance_Levels_for_the_Share_Price_Target\"><\/span><strong>Max Financial Services Stock Analysis: Support and Resistance Levels for the Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Max Financial Services stock analysis on weekly charts shows a range of Rs 1,330 to Rs 1,461 since late September, with the stock near the lower end.<\/p>\n<p>The first support level is Rs 1,330 to Rs 1,344, the lows of the weeks of 5 October and 28 September. Below that, Rs 1,360 was the low of the week of 21 September and Rs 1,300 is the next round level.<\/p>\n<p>The first resistance level is Rs 1,385, the high of the week of 5 October. Above that, Rs 1,461 is the high of the week of 28 September and Rs 1,544 to Rs 1,592 marks the September highs. These levels come from weekly price action, are not trade recommendations, and frame the near-term Max Financial Services share price target.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Max_Financial_Services_Share_Price_Target_2026_2027_and_2030_Short_Medium_and_Long_Term\"><\/span><strong>Max Financial Services Share Price Target 2026, 2027 and 2030: Short, Medium and Long Term<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Short-Term_Max_Financial_Services_Share_Price_Target_3_to_6_Months\"><\/span><strong>Short-Term Max Financial Services Share Price Target (3 to 6 Months)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In the near term the stock is likely to trade between Rs 1,330 and Rs 1,461, from the 52-week low to the high of the week of 28 September. A close above Rs 1,385 would put Rs 1,461 in play, while a weekly close under Rs 1,330 would open a fresh 52-week low. Merger news and the Q2 FY27 results are the main triggers. This range anchors the near-term Max Financial Services share price target.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12-Month_and_2027_Max_Financial_Services_Share_Price_Target\"><\/span><strong>12-Month and 2027 Max Financial Services Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 12-month target price is Rs 1,295 to Rs 1,480, valued on 7 to 8 times FY28 book value of Rs 185. The range across scenarios runs from Rs 935 in the bear case to Rs 1,900 in the bull case.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Long-Term_Max_Financial_Services_Share_Price_Target_for_FY29_to_2030\"><\/span><strong>Long-Term Max Financial Services Share Price Target for FY29 to 2030<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>For FY29 to 2030 the Univest scenario range is Rs 1,398 to Rs 1,960. This assumes book value of Rs 215 in FY29 and Rs 245 in FY30 and a multiple of 6.5 to 8 times. It needs value of new business to keep growing near 30 percent and the merger with Axis Max Life to proceed on fair terms. This is the long-term Max Financial Services share price target in the Univest scenarios.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bull_Case_and_Bear_Case_for_Max_Financial_Services_Share_Price_Target\"><\/span><strong>Bull Case and Bear Case for Max Financial Services Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Bull_Case_Rs_1700_to_Rs_1900\"><\/span><strong>Bull Case Rs 1,700 to Rs 1,900<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The bull case of Rs 1,700 to Rs 1,900 for the Max Financial Services share price target needs book value of Rs 200 and the market to pay 8.5 to 9.5 times for it. It is +24.9% to +39.6% from the last close.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bear_Case_Rs_935_to_Rs_1105\"><\/span><strong>Bear Case Rs 935 to Rs 1,105<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The bear case of Rs 935 to Rs 1,105 for the Max Financial Services share price target equals 5.5 to 6.5 times FY28 book value of Rs 170 and sits below the Rs 1330.2 low. It is -31.3% to -18.8% from the last close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_Max_Financial_Services_a_Good_Buy_at_Rs_1361_Max_Financial_Services_Buy_or_Sell_View\"><\/span><strong>Is Max Financial Services a Good Buy at Rs 1,361? Max Financial Services Buy or Sell View<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Whether Max Financial Services is a buy at Rs 1,361.00 depends on horizon and risk appetite. The base case sits between 5 percent below and 9 percent above the current price, the stock is 28 percent below its high, and the open question is merger terms. The Max Financial Services share price target range is the starting point for that decision.<\/p>\n<p>Long-term holders may focus on value of new business, merger terms and margin, and treat Rs 1,330 as the level to watch. Short-term traders may prefer to wait for a close above Rs 1,385. Check institutional holding in the September quarter filing for signs of accumulation or selling. Consult a SEBI-registered advisor before acting, since this Max Financial Services buy or sell view is educational.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Invest_in_Max_Financial_Services_Shares\"><\/span><strong>How to Invest in Max Financial Services Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Step 1: Check the live price, valuation and the latest Max Financial Services share price target range on the Univest Screener.<\/p>\n<p>Step 2: Open a demat and trading account with a SEBI-registered broker such as Univest before acting on any Max Financial Services share price target.<\/p>\n<p>Step 3: Search for MFSL on the NSE or 500271 on the BSE in your trading app.<\/p>\n<p>Step 4: Place a limit order near your planned entry and size the position so a fall to Rs 935 is bearable.<\/p>\n<p>Step 5: Track merger terms, value of new business and Q2 FY27 results and set price alerts on the Univest App to follow any change in the Max Financial Services share price target.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Max Financial Services closed at Rs 1,361.00 against a Univest base case share price target of Rs 1,295 to Rs 1,480, a bull case of Rs 1,700 to Rs 1,900 and a bear case of Rs 935 to Rs 1,105. Q1 FY27 delivered revenue growth of 18 percent and value of new business growth of 33 percent. The main risks are merger terms, regulatory approvals and a high price to book value.<\/p>\n<p>The stock is 28.1 percent below its 52-week high, so the base case sits between 5 percent below and 9 percent above the current price. The triggers to watch are merger terms, value of new business and Q2 FY27 results and the Rs 1,330 and Rs 1,385 levels. Re-check the Max Financial Services share price target after each quarterly result. Investors with a long horizon and tolerance for volatility can track these triggers, while others may prefer to size positions carefully.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Max Financial Services live price and get daily stock recommendations.<\/em><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Max_Financial_Services_Share_Price_Target_2026\"><\/span><strong>FAQs on Max Financial Services Share Price Target 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Max_Financial_Services_share_price_target_for_2026\"><\/span><strong>What is the Max Financial Services share price target for 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Max Financial Services share price target for 2026 is Rs 1,295 to Rs 1,480 in the Univest base case, with a bull case of Rs 1,700 to Rs 1,900 and a bear case of Rs 935 to Rs 1,105. No brokerage target was available on the sources we track as of 6 October 2026, so these are Univest research scenarios. These are estimates and can change after the Q2 FY27 results.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Max_Financial_Services_share_price_target_for_2027\"><\/span><strong>What is the Max Financial Services share price target for 2027?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Max Financial Services share price target for 2027 is Rs 1,295 to Rs 1,480 in the base case, valued on 7 to 8 times FY28 book value of Rs 185. The scenario range runs from Rs 935 to Rs 1,900.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Max_Financial_Services_a_good_buy_at_Rs_136100\"><\/span><strong>Is Max Financial Services a good buy at Rs 1,361.00?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Whether Max Financial Services is a good buy at Rs 1,361.00 depends on your horizon, risk appetite and how you read the Max Financial Services share price target. Operating results are strong with value of new business up 33 percent, but the merger terms are unclear and the stock sits near its 52-week low. Consult a SEBI-registered advisor before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_risks_to_the_Max_Financial_Services_share_price_target\"><\/span><strong>What are the key risks to the Max Financial Services share price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The key risks to the Max Financial Services share price target are merger terms, regulatory approvals, persistency and high price to book. The swap ratio is not yet known. Terms seen as unfair would hit the stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_catalysts_for_the_Max_Financial_Services_share_price_target\"><\/span><strong>What are the key catalysts for the Max Financial Services share price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The key catalysts for the Max Financial Services share price target are margin expansion, value of new business, axis bank stake and structure simplification. New business margin rose 315 bps to 23.2 percent on a higher protection and annuity mix.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Where_can_I_track_Max_Financial_Services_share_price_today_and_Max_Financial_Services_share_price_target_updates\"><\/span><strong>Where can I track Max Financial Services share price today and Max Financial Services share price target updates?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can track the live Max Financial Services share price, results and any change to the Max Financial Services share price target on the Univest Screener and the Univest App. Download the Univest iOS App or Univest Android App for research from SEBI-registered analysts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_Max_Financial_Servicess_52-week_high_and_low\"><\/span><strong>What are Max Financial Services&#8217;s 52-week high and low?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Max Financial Services&#8217;s 52-week high is Rs 1,892.50 and its 52-week low is Rs 1,330.20, based on weekly NSE data. At Rs 1,361.00 the stock is 28.1 percent below the high and 2.3 percent above the low. Both levels frame the Max Financial Services share price target.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_to_buy_Max_Financial_Services_shares\"><\/span><strong>How to buy Max Financial Services shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Open a demat account with a SEBI-registered broker such as Univest, search for MFSL on the NSE or 500271 on the BSE, and place a limit order near your entry price, using the Max Financial Services share price target range as a guide. Size the position so a fall to Rs 935 is bearable, and check the live price on the Univest Screener first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the Max Financial Services share price target for 2026?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Max Financial Services share price target for 2026 is Rs 1,295 to Rs 1,480 in the Univest base case, with a bull case of Rs 1,700 to Rs 1,900 and a bear case of Rs 935 to Rs 1,105. No brokerage target was available on the sources we track as of 6 October 2026, so these are Univest research scenarios. 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