YES Securities' research report on SBI Life Insurance
We remain positive on SBI Life with consistent performance on the protection business and revival in the ULIP business. It continues to focus on extracting more from its bancassurance and agency channels. Limited presence on the online platforms, however, is a dampener. The stock trades at FY22E P/EV of 2.1x, which we find attractive.
We maintain our estimates and recommend BUY with a 1-year price target of Rs1,006.
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