INSUBCONTINENT EXCLUSIVE:
Kotak Institutional Equities has an add rating on HDFC Life Insurance Company in the long term with a fair value of Rs 605
The stock ended up 2.7% at Rs 584.85 on Tuesday while BSE Sensex closed 126.72 points down at 40,675.45.
Company FinancialsFor the quarter
ended 30-09-2019, the company has reported consolidated sales of Rs 225.06 crore, down -37.53% from last quarter sales of Rs 360.26 crore
and down -5.19 % from last year same quarter sales of Rs 237.38 crore
The company has reported net profit after tax of Rs 308.98 crore in the latest quarter
Chandran, Mr.Ranjan Mathai, Mr.Rushad Abadan, Mr.Sumit Bose, Mr.Suresh Badami, Mr.Vish Viswanathan, Ms.Bharti Gupta Ramola, Ms.Renu Sud
Karnad, Ms.Vibha Padalkar
Company has Price Waterhouse Chartered Accountants LLP as its auditors
As on 30-09-2019, the company has a total of 2,017,672,019 shares outstanding
Investment RationaleHDFC Life will remain at the cusp of innovation and hence a bellwether for the life insurance industry, said Kotak
Other large players have not forayed much into non-par business , following a deferred annuity policy launched last year and Sachay Plus
early this year, said Kotak Institutional.