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.
We retain our BUY rating on the stock. We value SBIL at ~2.7xFY24 EV still lower than HDFC Life and revise our target price from Rs 1400 to Rs1500 per share.
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