Motilal Oswal starts coverage on India's Canara HSBC Life with 'buy', sees strong growth ahead

Canara HSBC Life Insurance

14/01/2026 06:52

** India's Canara HSBC Life Insurance Co CANR.NS gains nearly 1% to 143 rupees

** Motilal Oswal initiates coverage on stock with "buy"; PT of 180 rupees, calling it a bank channel-led compounding story

** Brokerage expects co to continue to gain market share as it increases its penetration among Canara Bank customers, scales up cross-selling in the HSBC channel, builds a strong agency channel, and develops relationship with new-age distributors

** With Canara Bank investing significantly in digital tools for customer segmentation, see a strong growth trajectory for CANR going ahead - Motilal Oswal

** Expects co to report a CAGR of 20%/23% in annual premium equivalent/value of new business during FY25-28E; says VNB margins likely to expand by 50bp each year over next two years

** Stock up 34.8% since trading debut in October

 (Reporting by Brijesh Patel in Bengaluru)

 ((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))