Buy SBI Life, target price Rs 1190: Kotak Securities

Kotak Securities Limited has buy call on SBI Life Insurance Company with a target price of Rs 1190. The current market price of SBI Life Insurance Company Ltd. is Rs 1157.55. 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 115854.71 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-2020.



Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 243.50 Crore, down -83.17 % from last quarter Total Income of Rs 1446.43 Crore and down -35.70 % from last year same quarter Total Income of Rs 378.67 Crore. Company reported net profit after tax of Rs 223.16 Crore in latest quarter.


Investment Rationale
Reversal signal near its demand zone along with decent volume activity on the daily chart.

Promoter/FII Holdings
Promoters held 55.69 per cent stake in the company as of 30-Sep-2021, while FIIs owned 24.48 per cent, DIIs 12.05 per cent.