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Buy HDFC Life Insurance; target of Rs 800: ICICI Direct

ICICI Direct is bullish on HDFC Life Insurance recommended buy rating on the stock with a target price of Rs 800 in its research report dated January 24, 2022.

January 31, 2022 / 12:24 PM IST
 
 
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ICICI Direct's research report on HDFC Life Insurance


HDFC Life is among the most dominant players in the Indian life insurance industry with a strong distribution network, parentage, operating metrics. Balanced product mix with focus on non-par, protection & annuity business • Industry leading VNB margins of over 25%.


Outlook


We retain our BUY rating on the stock. We value HDFC Life at 3.4x FY24E EV with TP of Rs 800.

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At 17:30 HDFC Life Insurance Company was quoting at Rs 620.35, down Rs 1.45, or 0.23 percent.

It has touched an intraday high of Rs 632.75 and an intraday low of Rs 619.10.

It was trading with volumes of 70,217 shares, compared to its thirty day average of 89,550 shares, a decrease of -21.59 percent.

In the previous trading session, the share closed down 1.40 percent or Rs 8.85 at Rs 621.80.

The share touched its 52-week high Rs 775.65 and 52-week low Rs 616.85 on 02 September, 2021 and 25 January, 2022, respectively.

Currently, it is trading 20.02 percent below its 52-week high and 0.57 percent above its 52-week low.

Market capitalisation stands at Rs 131,006.34 crore.

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first published: Jan 31, 2022 12:24 pm
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