News From Press Irdai's no to HDFC-Max merger could impact sector valuations

Irdai's no to HDFC-Max merger could impact sector valuations

Source: Business Standard Jun 13, 2017

Max Financial Services' stock has shed about six per cent in the past two trading sessions, after the Insurance Regulatory and Development Authority of India (Irdai) rejected the proposed merger of Max Life Insurance and HDFC Standard Life Insurance. The grand merger announcement last June had led to significant re-rating in the stocks of their parent companies, HDFC and Max Financial Services.

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