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.
For 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.
The company’s top management includes Mr.Deepak S Parekh, Mr.James Aird, Mr.Keki M Mistry, Mr.Ketan Dalal, Mr.Norman K Skeoch, Mr.Prasad 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.
HDFC Life will remain at the cusp of innovation and hence a bellwether for the life insurance industry, said Kotak Institutional. 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.
Source: Economic Times