India's Canara HSBC Life rises as brokerages stay bullish after Q2 profit growth

Canara HSBC Life Insurance

12/10/2026 06:06

** Shares of Canara HSBC Life Insurance Company CANR.NS up 2.1% at 142 rupees
** Co's Sept-qtr PAT rises 6.3% to 430.5 million rupees; net premium income rises nearly 13% to 25.53 billion rupees
** Investec ("Buy"; PT: 235 rupees) says value of new business (VNB) met expectations on a higher share of non-participating savings and protection products, a favourable interest-rate curve and operating leverage
** Systematix ("Buy"; PT: 170 rupees) notes while quarterly VNB growth was strong, annualised premium equivalent (APE) were modestly below its forecasts 
** Says margin expansion was supported by a shift toward traditional and protection products, favourable yields and lower unit costs from higher volumes 
** Antique Stock Broking ("Buy"; PT 195 rupees) says proposed insurance distribution reforms could be an opportunity for co, as lower commissions may make products more affordable and lift volumes 
** Stock rated "Strong Buy" on average by 9 analysts; median PT at 185 rupees --LSEG-compiled data
** YTD, stock down 3.8%

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))