Buy SBI Life Insurance, target price Rs 1250: Edelweiss

Edelweiss has buy call on SBI Life with a target price of Rs 1250. The current market price of SBI Life Insurance Company is Rs 1160.7.

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 116056.88 Crore) operating in Financial Services sector.

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
A follow through move has ensured that the bullish momentum is likely to continue further.

Promoter/FII Holdings
Promoters held 55.7 per cent stake in the company as of June 30, 2021, while FIIs held 27.2 per cent, DIIs 9.6 per cent and public and others 7.4 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.

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