ICICI Direct has given Buy recommendation for HDFC Life Insurance with a target price of Rs. 800 in its research report issued on Jul 20, 2021

ICICI Direct’s research report on HDFC Life Insurance

HDFC Life is among the most dominant players in Indian life insurance industry with strong distribution network, parentage, operating metrics. Balanced product mix with focus on non-par and protection business Industry leading VNB margins of over 25%

Outlook

We retain our BUY rating on the stock  We value HDFC Life at 4.5x FY23E EV with TP of Rs 800

 

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