What to watch: Deal to keep Axis Bank, Max Financial in focus

Shares of Axis Bank and Max Financial Services and its subsidiary Max Life Insurance will remain in focus, as they entered into a confidentiality and exclusivity arrangement. Under the deal, they will explore the possibility of Axis Bank entering into a long-term strategic partnership with Max Life. Max Financial Services currently holds a 72.5 per cent stake in Max Life while Mitsui Sumitomo Insurance and Axis Bank hold 25.5 per cent and 2 per cent stakes respectively.