SBI Life rises on heavy volumes
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SBI Life Insurance Company allots 35,982 equity shares under ESOS
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SBI Life Insurance Company added 1.59% to Rs 984.75, amid heavy volumes.
On the NSE, 56.78 lakh shares of the company were traded in the counter so far as compared to an average trading volume of 29.10 lakh shares in the past three months.
On the BSE, the counter clocked volume of 4.14 crore shares as compared to an average volume of 10.20 lakh in the past three months.
The scrip surged 7.29% to hit the day s high at Rs 1040 on the BSE in trade today. On a year-to-date basis, the stock has added 8.65% while the benchmark Sensex has gained 3.34% during the same period.
The media reported that CA Emerald Investment, an global arm of private equity giant Carlyle, offloaded its 3.5% stake in the life insurer through block deals. The stake sale is reportedly to be around Rs 3,300 crore.
SBI Life Insurance Company reported a net profit of Rs 532.38 crore in Q4 FY21 compared with net profit of Rs 530.67 crore in Q4 FY20.
Net premium income increased 31.1% to Rs 15,555.74 crore in Q4 FY21 over Q4 FY20. The company s net income from investments stood at Rs 4,505.94 crore in Q4 March 2021 compared with loss of Rs 6,677.19 crore in Q4 March 2020.
Profit before tax was at Rs 622.13 crore in Q4 FY21, up 19.3% from Rs 521.59 crore in Q4 FY20. The company made a provision of Rs 89.75 crore during the quarter for taxes.
SBI Life reported 2.4% rise in net profit to Rs 1,455.85 crore on 23.4% increase in net premium income to Rs 49,768.28 crore in the year ended 31 March 2021 over the year ended 31 March 2020.