The insurance stock rose over 5% in a month but from a 3-month perspective, it is down by more than 8%. It recently reclaimed 50-DMA placed at 602 earlier in March 2024. The stock closed at Rs 620 on 11 March 2024. On the weekly charts, the stock reclaimed 50 and 200-week moving averages last week, which suggests that bulls are here to stay.
The district consumer disputes redressal commission has directed HDFC Life Insurance company to pay ₹31.62 lakh with interest to a city woman towards an insurance claim and a compensation of ₹25,000 for denying her claim after the demise of her husband.
Ipca Laboratories saw a breakout of downward sloping resistance trendline adjoining highs of December 5 last year and January 12 this year. The stock formed strong bullish candlestick pattern on the daily charts with healthy volumes.
Sharekhan is bullish on HDFC Life Insurance Company has recommended buy rating on the stock with a target price of Rs 750 in its research report dated January 15, 2024.