India's life insurers rise as analysts see favourable risk-reward, sustained gains

Max Financial Services

22/08/2023 08:46

** Shares of life insurance firms SBI Life Insurance
 SBIL.NS , HDFC Life  HDFL.NS , ICICI Prudential Life  ICIR.NS 
and Life Insurance Corporation of India  LIFI.NS  climb between
1% and 9%
    ** HDFL is top Nifty 50 gainer, up 4.62% on the day
    ** Domestic brokerage Emkay Global says risk-reward is
favourable for life insurers; prefers SBIL, HDFL, Max Financial
 MAXI.NS  and ICIR in the sector
    ** Adds robust growth in monthly new business numbers could
drive stocks higher
    ** Kotak Institutional equities expects rally in insurance
stocks to sustain due to improving business momentum
    ** Says focus shifts to Jio Financial Services'  JIOF.NS  
plans for insurance sector 
    ** JIOF down 5% for second session in a row after shedding
5% in its stock market debut on Monday 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))