Goldman Sachs has initiated coverage on Max India with a BUY rating. Big Correction in its valuation, turnaround in healthcare and life business and lower capital requirements make it an ideal candidate for investment.
The sum of the parts valuation,
Max New York Life Insurance - 174
Max Bupa Health insurance company - 5
Max Healthcare - 7
this leads to a target price of Rs 186. EPS expectations 8.21 and 10.41 for fy 12 and fy 13 respectively.
