India's HDFC Life Insurance falls on weak new biz margin in H1 FY25

Sbi Life Insurance

15/10/2024 11:25

** HDFC Life Insurance  HDFL.NS  falls 3.6% to 714.25
rupees; its biggest intraday pct drop in over a month
    ** Stock top loser on Nifty 50 index  .NSEI , snaps
five-session winning streak
    ** Co reports a lower value for new business (VNB) margin
for H1 FY25 at 24.6% vs year-ago 26.2%, hurt by higher share of
low-margin unit-linked insurance plans (ULIPs)
    ** Posts ~15% rise in Q2 profit after tax
    ** More than 6.6 mln shares traded in stock's busiest
session in over three weeks
    ** Avg rating of analysts is "buy"; median PT is 800 rupees
- LSEG
    ** Rival SBI Life Insurance  SBIL.NS  and ICICI Prudential
Life Insurance  ICIR.NS  rated "strong buy" and "buy",
respectively
    ** HDFL up ~10% YTD vs SBIL's ~20% rise and ICIR's ~38% gain

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))