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    Buy HDFC Life Insurance Company, target price Rs 755: ICICI Securities

    Synopsis

    HDFC Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 114386.03 Crore) operating in Financial Services sector.

    HDFC LifeAgencies
    Promoters held 51.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.0 per cent, DIIs 6.58 per cent.
    ICICI Securities has buy call on HDFC Life Insurance Company with a target price of Rs 755. The current market price of HDFC Life Insurance Company is Rs 539.7. Time period given by analyst is one year when HDFC Life Insurance Company Ltd. price can reach defined target.

    HDFC Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 114386.03 Crore) operating in Financial Services sector.

    HDFC Life Insurance Company Ltd. key Products/Revenue Segments include Premiums Earned and Income From Investment for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 22987.27 Crore, up 237.68 % from last quarter Total Income of Rs 6807.43 Crore and up 11.11 % from last year same quarter Total Income of Rs 20689.53 Crore. Company reported net profit after tax of Rs 329.02 Crore in latest quarter.

    Investment Rationale
    The brokerage maintains BUY with target price unchanged at Rs755 based on FY24E EV of Rs404bn, 30x (unchanged) FY24E new business of Rs39bn and add Rs23 per share of Exide Life based on 1.5x FY24E EV of Rs33bn.

    Promoter/FII Holdings
    Promoters held 51.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.0 per cent, DIIs 6.58 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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