Buy SBI Life Insurance Company, target price Rs 1250: Religare Broking

Religare Broking has buy call on SBI Life Insurance Company with a target price of Rs 1250. The current market price of SBI Life Insurance Company is Rs 1148.6. Time period given by analyst is Intra Day when SBI Life Insurance Company Ltd. price can reach defined target.

SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 114882.56 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 31-03-2022, the company reported a Standalone Total Income of Rs 21666.15 Crore, up 4.76 % from last quarter Total Income of Rs 20681.58 Crore and up 2.56 % from last year same quarter Total Income of Rs 21125.62 Crore. Company reported net profit after tax of Rs 672.15 Crore in latest quarter.

Investment Rationale
Stock has witnessed a fresh breakout from a declining trend line as well.

Promoter/FII Holdings
Promoters held 55.48 per cent stake in the company as of 31-Mar-2022, while FIIs owned 24.15 per cent, DIIs 12.46 per cent.