MAXHEALTH

Max Healthcare Institute Limited · NSE · INE027H01010 · F&O · lot 525 · 272 sessions on record

₹940.95▲ +11.15 · +1.2%from ₹929.80 the session before · 1 Oct 2026 close · NSE end of day

Open: ₹919.85
High: ₹950.00
Low: ₹902.05
Day's range: ₹485.2% of the previous close
VWAP: ₹928.53close +1.3% from it
Volume, shares: 55 L2.15× the 20-session average
Turnover, ₹ crore: 510
Trades: 1.0 L52 shares per trade
Previous close: ₹929.80+11.15 to the close
Price band, next session: ₹846.85 – ₹1,035.0510% either side of the close · dynamic, widened in 5% steps when hit

Day range81% of the way up

₹902.05₹950.00

52-week range12% of the way up

₹902.05 1 Oct₹1,221.90 23 Oct

−23% from the high · +4.3% from the low

The desk read · 1 Octexpiry 27 Oct · 26 days

short covering

futures read

price +1.2% · OI −0.9%

−0.30

futures premium, ₹

0.0% to spot ₹940.95

0.81

puts per call, by OI

by volume 0.89

950

max pain

+0.96% from the close

▼ −0.9%

futures OI on the day

−200 lots · 23,000 open

Short covering into a 26-day expiry: futures OI −0.9% on a +1.2% day, the most call OI sits at 1,000, the most put OI at 900, max pain 950.

Futures and options

1 Oct close · lot 525 · NSE end of day

MAXHEALTH futures closed at ₹940.65, 0.0% to spot, with 98% of open interest in the 27 Oct contract, and the 940 straddle prices a move of about ±6.2% by expiry.

Futures by expiryall 3 contracts NSE lists on the stock · basis against the spot close ₹940.95

Futures by expiry, basis against the spot close ₹940.95
Expiry	Close ₹	Basis ₹ · %	Annualised %	OI lots · on the day	Share of OI %	Contracts traded
27 Oct26 days	₹940.65	−0.300.0%	−0.45%	22,000▼ −1.0% · −220 lots	98	6,300
23 Nov53 days	₹939.05	−1.90−0.2%	−1.4%	480▲ +5.3% · +24 lots	2.1	190
29 Dec89 days	₹940.60	−0.350.0%	−0.15%	81▼ −10.0% · −9.0 lots	0.36	43

2.5% of futures OI sits beyond the 27 Oct contract · 55 of 81 listed contracts traded · 44,000 option contracts changed hands

Options27 Oct expiry · 26 days

The 940 straddle closed at ₹58.75 (call 29.55 + put 29.20), pricing a move of about ±6.2% by the 27 Oct expiry. In the last 253 windows of 19 sessions, MAXHEALTH moved more than that 101 times.

Call OI, lots: 9,40049 L shares
Put OI, lots: 7,60040 L shares
Puts per call, by OI: 0.81by volume 0.89
Max pain: 950+0.96% from the close
Contracts traded: 55 of 81listed for this expiry

Open interest by strike, lotstop three strikes each side

Calls

Strike

Puts

1,100

1,100

1,100

1,050

1,200

1,000

940

580

930

520

900

1,400

Open interest added on the day, lotsthree largest additions each side

Calls

Strike

Puts

+3.0

1,080

+52

1,050

+15

1,030

970

+94

940

+78

870

+60

Close ₹ · Nifty 50 rebased to the first close · futures open interest by the day's build-up126 sessions to 1 Oct · axis fixed at 4 × ATR-14 around the last close · hover or tap a session and the read beside the chart follows it

272 sessions on file · from 28 Aug

MAXHEALTH close
Nifty 50, rebased
long build-up · price up, OI up
short build-up · price down, OI up
short covering · price up, OI down
long unwinding · price down, OI down

Session read · latest close: 1 Oct 2026
Close ₹ · day %: ₹940.95▲ +1.2% on the previous close
Against Nifty 50: Nifty −0.9%+2.1 pp difference on the day
Futures OI, lots: 23,000−200 lots · −0.9% on the day
The day's build-up: short coveringprice +1.2% · OI −0.9%
Against the averages: below 20 · below 5020-session ₹1,015.79 (−7.4%) · 50-session ₹1,033.19 (−8.9%)
Volume: 2.15×the previous 20 sessions · 55 L shares
Extremes on the day: none

The market after the news

close against the last close before each bulletin · Nifty 50 over the same sessions

After the last 8 bulletins, MAXHEALTH closed higher five sessions later in 3 of 8.

Close after each bulletin on the day, one session later and five sessions later, with Nifty 50 and futures open interest
Bulletin	Day of the news	1 session later	5 sessions later	Futures OI on the day
22 MayMax Healthcare reports strong growth and major acquisition	▼ −6.2%Nifty +0.3% · −6.5 pp	▼ −8.3%Nifty +1.6% · −9.9 pp	▼ −14.0%Nifty −1.1% · −12.8 pp	▲ +16.7%short build-up
20 MayMax Healthcare acquires 58% stake in Kalinga Hospital	▲ +0.7%Nifty +0.2% · +0.5 pp	▲ +2.1%Nifty +0.2% · +1.9 pp	▼ −7.0%Nifty +1.2% · −8.3 pp	▼ −0.3%short covering
19 MayMax Healthcare acquires 58% stake in Kalinga Hospital	▲ +0.7%Nifty +0.2% · +0.5 pp	▲ +2.1%Nifty +0.2% · +1.9 pp	▼ −7.0%Nifty +1.2% · −8.3 pp	▼ −0.3%short covering
20 DecMarkets rebound on global cues and rupee recovery	▲ +0.2%Nifty +0.8% · −0.6 pp	▼ −0.1%Nifty +0.8% · −0.9 pp	▼ −3.3%Nifty −0.1% · −3.1 pp	▼ −0.9%short covering
20 DecMarkets rebound on global cues and rupee recovery	▲ +0.2%Nifty +0.8% · −0.6 pp	▼ −0.1%Nifty +0.8% · −0.9 pp	▼ −3.3%Nifty −0.1% · −3.1 pp	▼ −0.9%short covering
18 DecMax Healthcare shares rise as board approves YYPL acquisition	▲ +2.6%Nifty +0.6% · +2.0 pp	▲ +2.8%Nifty +1.4% · +1.4 pp	▲ +1.5%Nifty +0.5% · +1.0 pp	▲ +0.7%long build-up
18 NovMax Healthcare and Ahluwalia Contracts Q2 results review	▲ +4.3%Nifty +0.6% · +3.7 pp	▲ +4.7%Nifty +1.1% · +3.6 pp	▲ +4.1%Nifty +1.1% · +3.0 pp	▼ −7.6%short covering
18 NovUBS maintains buy rating on Max Healthcare with ₹1,550 target	▲ +4.3%Nifty +0.6% · +3.7 pp	▲ +4.7%Nifty +1.1% · +3.6 pp	▲ +4.1%Nifty +1.1% · +3.0 pp	▼ −7.6%short covering

8 of 10 bulletins

Quarterly results

consolidated · latest filed 13 Aug, 03:41 pm IST · NSE filings

Revenue ₹2,366 cr, +17% on a year earlier; profit ₹323 cr, +4.9% in the Jun 2026 quarter, consolidated.

Last 8 quarters, consolidated₹ crore as filed · year on year against the same quarter a year earlier · market: close on the first session after the filing against the last close before it, Nifty 50 over the same session

Quarterly results of MAXHEALTH on the consolidated basis with the market's move on the first session after each filing
Quarter	Revenue ₹ cr	Revenue YoY	Profit ₹ cr	Profit YoY	EPS ₹	Market on the day
Jun 2026filed 13 Aug	₹2,366 cr	▲ +17%	₹323 cr	▲ +4.9%	3.30	▼ −0.5%Nifty −0.1% · −0.3 pp
Mar 2026filed 21 May · audited	₹2,143 cr	▲ +12%	₹342 cr	▲ +7.3%	3.50	▼ −6.2%Nifty +0.3% · −6.5 pp
Dec 2025filed 5 Feb	₹2,068 cr	▲ +11%	₹301 cr	▲ +26%	3.09	▲ +1.5%Nifty −0.5% · +2.0 pp
Sept 2025filed 14 Nov	₹2,135 cr	▲ +25%	₹491 cr	▲ +74%	5.02	▲ +1.7%Nifty +0.4% · +1.3 pp
Jun 2025filed 13 Aug	₹2,028 cr	▲ +31%	₹308 cr	▲ +30%	3.15	▲ +0.5%Nifty +0.5% · 0.0 pp
Mar 2025filed 20 May	₹1,910 cr	▲ +34%	₹319 cr	▲ +27%	3.26	▼ −1.9%Nifty +0.5% · −2.5 pp
Dec 2024filed 30 Jan	₹1,868 cr	▲ +40%	₹239 cr	▼ −17%	2.44	▲ +1.8%Nifty +0.4% · +1.5 pp
Sept 2024filed 5 Nov	₹1,707 cr	▲ +25%	₹282 cr	▲ +1.9%	2.88	▲ +3.4%Nifty +1.1% · +2.3 pp

By financial yearApril to March · each year the sum of its four quarters as filed, consolidated · EPS summed across the quarters · only complete years

Financial-year results of MAXHEALTH on the consolidated basis, summed from the quarters filed
Year	Revenue ₹ cr	Revenue YoY	Profit ₹ cr	Profit YoY	EPS ₹
FY26to Mar 2026	₹8,373 cr	▲ +19%	₹1,442 cr	▲ +34%	14.76
FY25to Mar 2025	₹7,028 cr	▲ +30%	₹1,076 cr	▲ +1.7%	11.00
FY24to Mar 2024	₹5,406 cr	—	₹1,058 cr	—	10.85

Fundamentals

consolidated · filings to Jun 2026 · close ₹940.95 on 1 Oct

MAXHEALTH trades at 63 times trailing earnings against 58 for its industry, 8.5 times book value, revenue +16% over twelve months, a 0.43% dividend yield, market cap ₹92,000 cr.

Valuationarithmetic on filings and the close · each cell names what it rests on · — where an input is missing

Market cap: ₹92,000 cron 1 Oct · free float ₹70,000 cr
Price to earnings: 63consolidated · four quarters to Jun 2026 · industry 58
Trailing EPS: ₹14.91diluted · consolidated · four quarters to Jun 2026
Price to book: 8.5consolidated · balance sheet to Mar 2026
Book value a share: ₹110.41consolidated · balance sheet to Mar 2026 · over NSE's share count
Debt to equity: 0.32borrowings over equity · consolidated · balance sheet to Mar 2026
Return on equity: 14%trailing profit over average equity · consolidated
Dividend yield: 0.43%₹4.00 a share in 365 days
Face value: ₹10a share
Shares outstanding: 97 cron 1 Oct

Growthsums of the four quarters filed to Jun 2026 · growth against the four quarters before them · consolidated

Revenue, trailing 12 months: ₹8,712 crfour quarters to Jun 2026
Revenue growth, 12 months: ▲ +16%against the twelve months before
Revenue 2-year CAGR: ▲ +24%trailing twelve months against the twelve months 2 years earlier · consolidated
Profit, trailing 12 months: ₹1,457 crfour quarters to Jun 2026
Profit growth, 12 months: ▲ +27%against the twelve months before
Profit 2-year CAGR: ▲ +18%trailing twelve months against the twelve months 2 years earlier · consolidated

PeersBSE sub-group Hospital · F&O stocks with filings on record · industry P/E 58, market caps over trailing profit of 4 stocks

Stocks in the BSE sub-group Hospital with market cap, price to earnings and price to book
Stock	Market cap ₹	P/E	P/B	Close ₹
APOLLOHOSPApollo Hospitals Enterprise Limited	1,20,000 cron 1 Oct	56consolidated	12	₹8,133.50
MAXHEALTHMax Healthcare Institute Limited	92,000 cron 1 Oct	63consolidated	8.5	₹940.95
MANIPALHOSManipal Health Enterprises Limited	92,000 cron 1 Oct	—	—	₹696.00
ASTERDMAster DM Quality Care Limited	62,000 cron 1 Oct	—	13	₹708.90
FORTISFortis Healthcare Limited	59,000 cron 1 Oct	57consolidated	5.8	₹785.00
MEDANTAGlobal Health Limited	36,000 cron 1 Oct	—	9.2	₹1,357.30
NHNarayana Hrudayalaya Ltd.	36,000 cron 1 Oct	—	7.8	₹1,741.40
KIMSKrishna Institute of Medical Sciences Limited	31,000 cron 1 Oct	—	12	₹736.25
AGARWALEYEDr. Agarwal's Health Care Limited	15,000 cron 1 Oct	—	7.3	₹486.45
RAINBOWRainbow Childrens Medicare Limited	13,000 cron 1 Oct	—	7.8	₹1,279.80
PARKHOSPSPark Medi World Limited	12,000 cron 1 Oct	—	5.6	₹270.80
HCGHealthcare Global Enterprises Limited	10,000 cron 1 Oct	—	7.1	₹668.75
YATHARTHYatharth Hospital & Trauma Care Services Limited	10,000 cron 1 Oct	—	5.5	₹1,033.70
JLHLJupiter Life Line Hospitals Limited	8,500 cron 1 Oct	—	5.5	₹259.85
KOVAIKovai Medical Center & Hospital Limited	6,600 cron 1 Oct	—	—	₹5,993.50
ARTEMISMEDArtemis Medicare Services Limited	5,300 cron 1 Oct	—	5.7	₹336.40
INDRAMEDCOIndraprastha Medical Corporation Limited	3,100 cron 1 Oct	—	4.2	₹338.60
KMCSHILK M C Speciality Hospitals (India) Limited	2,800 cron 1 Oct	—	—	₹171.95
DRAGARWQDr Agarwals Eye Hospital Limited	2,500 cron 1 Oct	—	—	₹5,159.00
GKSLGujarat Kidney And Super Speciality Limited	1,500 cron 1 Oct	77consolidated	6.0	₹194.25
SHALBYShalby Limited	1,400 cron 1 Oct	—	1.4	₹133.55
GPTHEALTHGPT Healthcare Limited	1,200 cron 1 Oct	—	4.6	₹151.45
MOMSBELIEFRays of Belief Limited	470 cron 1 Oct	—	—	₹226.90
LOTUSEYELotus Eye Hospital and Institute Limited	240 cron 1 Oct	—	4.0	₹115.70

Shareholding

quarter to 30 Jun · none pledged · NSE filings

Promoters hold 23.7%, foreign portfolio investors 41.8%, mutual funds 18.7% and insurance companies 7.5%, as filed for the quarter to 30 Jun.

23.7%41.8%18.7%

By category, last 5 quarterspercent of shares · beneath each figure, the change in percentage points against the previous quarter on file

Shareholding of MAXHEALTH by category over the last 5 quarters with the change against the previous quarter
Category	30 Jun	31 Mar	31 Dec	30 Sept	30 Jun
Promoters	23.710.00 pp	23.71▼ −0.01 pp	23.72▼ −0.02 pp	23.740.00 pp	23.74
Foreign portfolio investors	41.78▼ −3.61 pp	45.39▼ −5.16 pp	50.55▼ −1.25 pp	51.80▼ −2.96 pp	54.76
Mutual funds	18.68▲ +2.38 pp	16.30▲ +2.26 pp	14.04▼ −0.21 pp	14.25▲ +1.71 pp	12.54
Insurance companies	7.51▲ +1.20 pp	6.31▲ +2.14 pp	4.17▲ +0.59 pp	3.58▼ −0.09 pp	3.67
Banks and financial institutions	3.76▲ +0.05 pp	3.71▲ +0.72 pp	2.99▲ +0.79 pp	2.20▲ +1.00 pp	1.20
Individual investors	3.43▼ −0.06 pp	3.49▲ +0.17 pp	3.32▲ +0.05 pp	3.27▼ −0.34 pp	3.61
Bodies corporate	0.23▲ +0.08 pp	0.15▼ −0.08 pp	0.23▲ +0.01 pp	0.22▲ +0.07 pp	0.15
Others	0.90▼ −0.04 pp	0.94▼ −0.04 pp	0.98▲ +0.04 pp	0.94▲ +0.61 pp	0.33

Corporate actions

NSE and BSE records

Nothing upcoming on record; the last was a dividend of ₹2.00 a share, ex-date 3 Jul 2026.

Actionsex-dates · upcoming first, then the last eight · dividends in rupees a share, bonus and split as ratios

Corporate actions of MAXHEALTH, upcoming first, then the most recent
Ex-date	Action	Amount or ratio	Record date	Source
recent
3 Jul 2026	dividend	₹2.00	3 Jul 2026	BSE
4 Jul 2025	dividend	₹1.50	4 Jul 2025	BSE
23 Aug 2024	dividend	₹1.50	23 Aug 2024	BSE

Calendaras notified to the exchange

Next results: —no board meeting notified yet
Dividends in 365 days: ₹4.00a share · ex-dates inside the year
Last dividend: ₹2.00ex-date 3 Jul 2026

Price history

272 sessions on record · to 1 Oct · NSE end of day

MAXHEALTH is −5.3% over 20 sessions against Nifty's −6.2%, 23% below its 52-week high, realised volatility 31% annualised.

Returns against Nifty 50longest window first · Nifty 50 over the same sessions

Returns of the stock and Nifty 50 over six windows, longest first
Window	From ₹	MAXHEALTH %	Nifty 50 %	Difference pp
250 sessionssince 26 Sept	₹1,123.39	▼ −16%	▼ −9.1%	−7.2
120 sessionssince 9 Apr	₹954.99	▼ −1.5%	▼ −5.7%	+4.2
60 sessionssince 8 Jul	₹1,084.79	▼ −13%	▼ −6.1%	−7.1
20 sessionssince 2 Sept	₹994.03	▼ −5.3%	▼ −6.2%	+0.90
5 sessionssince 24 Sept	₹1,045.96	▼ −10%	▼ −2.8%	−7.3
1 sessionsince 30 Sept	₹929.79	▲ +1.2%	▼ −0.88%	+2.1

Averages of the closeclose against each average

5-session average: ₹973.39close −3.3% from it
20-session average: ₹1,015.79close −7.4% from it
50-session average: ₹1,033.19close −8.9% from it
200-session average: ₹1,033.26close −8.9% from it

Range and volumetrue range over 14 sessions · high to low over 20 · volume against the 20-session average

Average true range, 14: ₹293.1% of the close
Average day's range, 20: ₹242.6% of the close
Volume against 20 sessions: 2.15×55 L vs 28 L average

Volatility and co-movement with Nifty 50annualised from daily log returns · counts share one denominator per cell

Realised volatility, 20: 31%≈ ±2.0% a session · moved more than that on 3 of 20
Realised volatility, 60: 26%≈ ±1.6% a session · moved more than that on 14 of 60
Realised volatility, 250: 27%≈ ±1.7% a session · moved more than that on 62 of 250
Beta to Nifty, 60: 0.58moved with Nifty on 41 of 60 sessions
Beta to Nifty, 250: 0.65moved with Nifty on 165 of 250 sessions

Up and down sessionscloses above and below the previous close

Last 20 sessions: 10 up · 10 downof 20
Last 60 sessions: 28 up · 32 downof 60
Last 250 sessions: 126 up · 124 downof 250
Best session, 250: ▲ +6.6%6 Oct
Worst session, 250: ▼ −6.2%22 May

Max Healthcare Institute Limited is in 16 NSE indices

all 16 indices

10 bulletins on MAXHEALTH

latest 22 May 2026

Beats in the coverage

Often mentioned with

May 2026

22 May Max Healthcare reports strong growth and major acquisitionMax Healthcare reported significant revenue and net profit growth, driven by strong capacity utilization. The company is pursuing a major acquisition in Eastern India and launching a new hospital project in Lucknow, indicating a robust growth outlook.High 20 May Max Healthcare acquires 58% stake in Kalinga HospitalMax Healthcare acquired a 58.28% stake in Kalinga Hospital for ₹298 cr, increasing its debt to ₹3,573 cr. This acquisition marks its entry into the Odisha market, enhancing its presence in the healthcare sector.Medium 19 May Max Healthcare acquires 58% stake in Kalinga HospitalMax Healthcare acquired a 58.28% stake in Kalinga Hospital for ₹298 cr, funded through External Commercial Borrowing. This acquisition increases its consolidated borrowings to ₹3,573 cr, marking its entry into the Odisha market.High

December 2025

20 Dec Markets rebound on global cues and rupee recoveryMarkets rebounded sharply with BSE Sensex up 447.55 points to 84,929.36 and Nifty gaining 150.85 points to 25,966.40, ending a four-day losing streak. The rupee strengthened to ₹89.60 against the dollar, driven by global optimism and potential RBI intervention.High 20 Dec Markets rebound on global cues and rupee recoveryMarkets rebounded sharply with BSE Sensex up 447.55 points to 84,929.36 and Nifty gaining 150.85 points to 25,966.40. The rupee strengthened to 89.60 against the dollar, driven by optimism over US monetary easing and RBI support.High 18 Dec Max Healthcare shares rise as board approves YYPL acquisitionMax Healthcare shares rose 2.89% to ₹1,060.90 following board approval for a ₹1,020 crore acquisition of Yerawada Properties Private Limited in Pune. The acquisition will finalize upon receipt of the occupancy certificate for the new hospital.Medium

November 2025

18 Nov Max Healthcare and Ahluwalia Contracts Q2 results reviewMedium 18 Nov UBS maintains buy rating on Max Healthcare with ₹1,550 targetMedium 15 Nov Q2 results: Ashoka Buildcon profit drops, Max Healthcare risesMedium 14 Nov Marico, Tata Motors, Max Health, Natco Pharma Q2 results todayMedium

About Max Healthcare Institute Limited

exchange masters as of 18 Sept 2026 · classification by BSE

Company: Max Healthcare Institute Limited
Exchange: NSE · BSE 543220, group A
Listed on NSE: 21 Aug 2020
Classification: Healthcare › Healthcare Services › Hospital
Index: BSE 100
Face value: ₹10 a share
ISIN: INE027H01010
Sessions on record: 272
Price source: NSE UDiFF bhavcopy · end of day · delayed
Filings: NSE and BSE public disclosures · results, shareholding and corporate actions as filed
Computed: 1 Oct, 10:09 pm IST
Bulletins: 10 · written by the desk · not a recommendation

OI Charts is not a SEBI-registered investment adviser or research analyst. Prices, open interest, filings and the desk read are exchange data and arithmetic on it, not a basis for any investment decision.