AgenciesAxis Securities has buy call on SBI Life Insurance Company Ltd. with a target price of Rs 1540. The current market price of SBI Life Insurance Company is Rs 1253.25.
SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 125289.96 Crore) operating in Financial Services sector.
SBI Life Insurance Company Ltd. key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent and Profit/Loss on Sale/Redemption of Investments for the year ending 31-Mar-2021.
For the quarter ended 30-09-2022, the company reported a Standalone Total Income of Rs 27728.46 Crore, up 475.60 % from last quarter Total Income of Rs 4817.29 Crore and up 8.12 % from last year same quarter Total Income of Rs 25646.26 Crore. Company reported net profit after tax of Rs 376.74 Crore in latest quarter.
Investment Rationale
The brokerage remains positive on the stock and maintain a BUY rating with a unchanged Target Price of Rs 1,540/share (2.7x FY24EV), implying an upside potential of 22% from the CMP.
Promoter/FII Holdings
Promoters held 55.48 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.9 per cent, DIIs 12.29 per cent.
SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 125289.96 Crore) operating in Financial Services sector.
SBI Life Insurance Company Ltd. key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent and Profit/Loss on Sale/Redemption of Investments for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2022, the company reported a Standalone Total Income of Rs 27728.46 Crore, up 475.60 % from last quarter Total Income of Rs 4817.29 Crore and up 8.12 % from last year same quarter Total Income of Rs 25646.26 Crore. Company reported net profit after tax of Rs 376.74 Crore in latest quarter.
Investment Rationale
The brokerage remains positive on the stock and maintain a BUY rating with a unchanged Target Price of Rs 1,540/share (2.7x FY24EV), implying an upside potential of 22% from the CMP.
Promoter/FII Holdings
Promoters held 55.48 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.9 per cent, DIIs 12.29 per cent.
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