Exclusive Webinar :Gain complete knowledge about how you can invest in global markets during an insightful webinar on April 16 at 11 am. Register Now!

Buy HDFC Life Insurance: target of Rs 850: Sharekhan

Sharekhan is bullish on HDFC Life Insurance has recommended buy rating on the stock with a target price of Rs 850 in its research report dated January 14, 2021.

January 15, 2021 / 01:50 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on HDFC Life Insurance


We expect the Union Budget to provide favourable policy steps for the insurance industry; Possible steps may include providing a separate limit over and above the already available 80C limits and providing tax benefits to pension schemes (a la NPS) etc, HDFC Life being largest player is likely to benefit from tailwinds. Latest figures for HDFC Life indicates strong traction; NBP up 18.8% YoY / 11% y-o-y for Q3FY2021 / 9MFY2021. HDFC Life is attractive due to its strong business franchise, backed by favourable product/distribution mix, high bancassurance share, and robust margins.



Outlook


The stock trades at 5.0x/4.2x its FY2022E/FY2023E EVPS; well-diversified product bouquet is a positive; we maintain Buy with a revised PT of Rs. 850.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 15, 2021 01:50 pm

stay updated

Get Daily News on your Browser
Sections