Brokerages estimate SBI Life s annual premium equivalent (APE) to come at Rs 5,963 crore in Q3FY24, while value of new business (VNB) is expected to be at Rs 1,702 crore
The move comes after Bharti Group in October 2023 announced plans to buy out its joint venture partner AXA Group s 49% stake in the life insurance business.
The Nifty future closed negative with losses of 0.50% at 22023 levels on Tuesday. India VIX was up by 1.52% from 13.79 to 13.57 levels. Volatility was slightly down and holding overall bullish market bias.
Stocks that were in focus included names like HCL Tech, which rose 0.02%, SBI Life, which fell 1.48%, and Apollo Hospitals, whose shares jumped 1% on Thursday.
While they all come under the broad umbrella of financial services, they are so diverse that each segment is an industry in itself which is governed by an operating matrix that is very different from another. For example, a Housing finance company can be happy with 10 percent net margins, but for an average asset management company ( AMC) the net margin would be more than 30 percent. The only common thing that binds the financial service sector is the GDP growth rate as the growth in all segments has a certain well-defined relationship with GDP growth.