Buy SBI Life, target price Rs 1050: Motilal Oswal

Motilal Oswal has buy call on SBI Life Insurance Company with a target price of Rs 1050. The current market price of SBI Life Insurance Company Ltd. is Rs 880.

SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 88080.17 Crore) operating in Financial Services sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 241.76 Crore, down -21.17 % from last quarter Total Income of Rs 306.70 Crore and down -45.84 % from last year same quarter Total Income of Rs 446.34 Crore. Company reported net profit after tax of Rs 232.85 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.8 per cent, DIIs 7.1 per cent and public and others 6.5 per cent.