LIC has a market-capitalisation-to-embedded-value of just 0.9 as against 2 to 2.6 for HDFC Life Insurance, ICICI Prudential Life Insurance, and SBI Life Insurance. While there is scope for the valuation discount to narrow, the process could be gradual at best.
Broker's call: ICICI Pru Life (Buy) - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The Reserve Bank of India (RBI) has given its approval to ICICI Prudential Asset Management Company Limited (I-Pru AMC) and ICICI Prudential Life Insurance Company Limited (I-Pru Life) to acquire “aggregate holding” of up to 9.95 per cent of paid-up share capital or voting rights in RBL Bank Limited.
RBL Bank share price today: RBL Bank shares climbed 5.67 per cent to hit a high of Rs 284.20 on BSE. RBL Bank in a filing to BSE said the RBI has given its approval to ICICI Pru AMC Ltd and ICICI Pru Life to acquire the stake within one year.