India's HDFC Life swings to YTD gains as Q1 report fuels optimism

Sbi Life Insurance

16/07/2024 10:34

** Shares of HDFC Life Insurance  HDFL.NS  rise around 2% to
652 rupees, swinging to YTD gains
    ** HDFL's Q1 profit rose 15% and its value of new business
(VNB) grew 18% year-on-year on strong premium growth
    ** Healthy VNB growth sets the tone for strong FY25, says
Morgan Stanley
    ** Says stocks' current level is a good entry point
    ** Emkay Global says Q1 was broadly in-line but ingredients
for HDFL's growth and margin improvement are in place 
    ** At least 12 analysts raise PTs, lifting the median PT of
31 analyst to 745 rupees from 739 rupees a month ago -LSEG data
    ** Their mean rating remains "buy" - LSEG data
    ** Stock now up 1% YTD, but well below ICICI Prudential
Life's  ICIR.NS  23% rise and SBI Life's  SBIL.NS  14% jump

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))