Buy HDFC Life Insurance Company., target price Rs 640: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on HDFC Life Insurance Company with a target price of Rs 640.The current market price of HDFC Life Insurance Company is Rs 613.75. Motilal Oswal Financial Services recommended to keep stop loss at Rs 598.

HDFC Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 129833.32 Crore) operating in Financial Services sector.

HDFC Life Insurance Company 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 has 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 has reported net profit after tax of Rs 329.02 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Ketan Dalal, Ms.Bharti Gupta Ramola, Ms.Renu Sud Karnad, Mr.Keki M Mistry, Mr.V K Viswanathan, Mr.Prasad Chandran, Mr.Suresh Badami, Ms.Vibha Padalkar, Mr.Sumit Bose. Company has G M Kapadia & Co as its auditors. As on 30-06-2022, the company has a total of 211 Crore shares outstanding.

Investment Rationale
Range breakout on weekly frame and holding well after surpassing hurdle of 600 zones.

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.