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[hfe_template id='11223'] [ad_1] Shares of Max Financial Services rose 2.5% in early trade to their day’s high of Rs 1,145.80 on the BSE on Thursday after a large block deal involving 35.8 lakh shares worth Rs 399 crore took place at Rs 1,112 per share. Max Ventures Investment Holding is likely to offload up to a 1.59% stake in Max Financial Services through block deals, according to a CNBC-TV18 report. The offer price is reportedly set at Rs 1,117.6 per share, representing a 0.5% discount to the company’s current market price. The total size of the block deal is estimated at Rs 611.6 crore, the report added. This comes months after a significant transaction on September 5, 2024, when 1.5 crore shares, representing 4.3% of the company’s equity, changed hands in a Rs 1,637 crore deal. Max Financial Services, a leading player in the life insurance sector through its joint venture with Axis Bank, reported a 62.3% year-on-year drop in net profit to Rs 56 crore for the quarte...

[hfe_template id='11223'] [ad_1] Engineering service provider Cyient shares plunged 9% to Rs 1724 in Friday's trade after the company posted a drop in June-quarter profit due to delays in project execution. The company reported a 23.8% sequential drop in its first-quarter net profit at Rs 144 crore. On a year-on-year (YoY) basis, the profit for the Hyderabad-based firm declined 18.6%. Also Read: HCL Technologies, HDFC Life among 10 stocks that earned upgrades in last 1 month Unlike the previous quarter when the firm saw deal wins from Airbus and Deutsche Aircraft, the ER&D (engineering and research and development) firm’s revenue was impacted by greater-than-anticipated delays and right shifts in project execution in the connectivity segment. Its Q1 revenue was down 0.6% YoY and 9.9% sequentially at Rs 1,675.7 crore.The company's DET (Digital, Engineering, and Technology) segment, which accounts for more than 80% of the firm’s revenue, clocked Rs 1,414 crore ...