Maruti Suzuki's stock has indicated a little bit weak bias sliding from the significant 200-DMA level of Rs 8,740 and has got the support zone near Rs 8,200 levels.
SBI Life has witnessed strong traction in premium growth across all products segments (barring PAR) with agency and banca channel contributing to overall growth in FY22
Analysts say SBI Life deserves better valuation, raise targets
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Analysts believe SBI Life Insurance may keep the lowest-cost life insurer tag, and is set to catch up with its peers on the margins front soon.
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At the prevailing price, SBI Life trades at a FY22 ratio of 2.5 times and FY23 P/EV ratio of 2.2 times.
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SBI Life Insurance post March quarter earnings, as the insurer continued to improve cost ratios – which are best in the industry, and reported a strong VNB (value of new business) growth of 63 per cent YoY, a 209 basis points margin expansion to 22.2 per cent, and an APE (annual premium equivalent) growth of 48 per cent.
Union Budget 2021: ICICI Lombard, ICICI Prudential, SBI Life shares rally 3-6% after Nirmala Sitharaman raises FDI limit for insurance
In a proposal to amend the Insurance Act 1938, FM Nirmala Sitharaman increased foreign direct investment limit for the insurance sector to 74 percent from 49 percent earlier. February 02, 2021 / 03:07 PM IST
Insurance stocks rallied 3-6 percent after Finance Minister Nirmala Sitharaman, in her Union Budget 2021 speech, increased the foreign direct investment limit for the insurance sector to 74 percent.
In a proposal to amend the Insurance Act 1938, the government increased foreign direct investment limit for the insurance sector to 74 percent from 49 percent earlier. The increase in FDI limits from 49 percent to 74 percent for the insurance sector is a welcome step and will help insurance companies to raise funds to ensure their solvency is maintained in line with growing business needs, said Manoj Purohit, Partner and Leader – Financi