Suruchi Kapoor of Edelweiss Financial Services has a buy call on SBI Life Insurance Company Ltd. with a target price of Rs 850.0. The current price of SBI Life Insurance Company Ltd. is Rs 806.65 Time period given by the analyst is Intra Day when SBI Life Insurance Company Ltd. price can reach defined target. Suruchi Kapoor recommended to keep a stoploss at Rs 782 .
SBI Life Insurance Company Ltd., incorporated in 2000, has a market cap of Rs 80647.12 crore.
Investment Rationale
The stock broke resistance of 200 DEMA and closed above it. Short-term oscillators are trading positive.
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Quarterly Results Source: ETMarkets.com
Financials
For the quarter ended March 31, 2020, the company reported a standalone sales of Rs 920.92 crore, up 240.15 per cent from last quarter sales of Rs 270.74 crore and up 104.16 per cent from last year same quarter sales of Rs 451.07 crore. The company reported net profit after tax of Rs 530.67 crore in the latest quarter.
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Promoter/FII Holdings
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Promoters held 62.80 per cent stake in the company as of March 31, 2020, while FIIs held 25.87 per cent, DIIs 5.73 per cent and public and others 5.60 per cent.
