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Buy SBI Life Insurance; target of Rs 1400: ICICI Direct

ICICI Direct is bullish on SBI Life Insurance recommended buy rating on the stock with a target price of Rs 1400 in its research report dated January 24, 2022.

January 31, 2022 / 12:26 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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ICICI Direct's research report on SBI Life Insurance

SBI Life (SBIL) is among most dominant players in the Indian life insurance industry with strong distribution network, parentage, operating metrics. Balanced product mix with focus on opex ratio ahead of industry • Strong parentage led distribution remains key catalyst

Outlook

Factoring in distribution strength & diversified product mix, we retain our BUY rating on the stock. We value SBIL at 2.8x FY24 EV with revised TP of Rs 1400.