ICICI Direct has given Buy recommendation for SBI Life Insurance recommended buy rating on the stock with a target price of Rs 1400 in its research rep with a target price of Rs. 1400 in its research report issued on Jan 24, 2022

ICICI Direct’s research report on SBI Life Insurance

SBI Life (SBIL) is among most dominant players in the Indian life insurance industry with strong distribution network, parentage, operating metrics. Balanced product mix with focus on opex ratio ahead of industry • Strong parentage led distribution remains key catalyst

Outlook

Factoring in distribution strength & diversified product mix, we retain our BUY rating on the stock. We value SBIL at 2.8x FY24 EV with revised TP of Rs 1400.

More Info on Trent

At 17:30 SBI Life Insurance Company was quoting at Rs 1,206.20, down Rs 4.55, or 0.38 percent.

It has touched an intraday high of Rs 1,237.50 and an intraday low of Rs 1,200.00.

It was trading with volumes of 25,660 shares, compared to its thirty day average of 34,810 shares, a decrease of -26.28 percent.

In the previous trading session, the share closed down 1.28 percent or Rs 15.70 at Rs 1,210.75.

The share touched its 52-week high Rs 1,293.00 and 52-week low Rs 840.00 on 17 January, 2022 and 22 March, 2021, respectively.

Currently, it is trading 6.71 percent below its 52-week high and 43.6 percent above its 52-week low.

Market capitalisation stands at Rs 120,654.17 crore.

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