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Emkay Global Picks 5 Best Stocks From Insurance Sector After Strong Bounce Back In Growth

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Leading brokerage firm Emkay Global has picked 5 best stocks from Insurance Sector. These stocks are HDFC Life Insurance Company Ltd(Buy, Rs 670 Target Price), ICICI Prudential Life Insurance Company Ltd (Buy, Rs 620 Target Price), LIC (Hold, Rs 750 Target Price), Max Financial Services Ltd (Buy, Rs 930 Target Price), and SBI Life (Buy, Rs 1675 Target Price).

 

According to the analyst, "The Indian life insurance industry reported strong growth in new business for Nov-22, with retail APE for the industry growing at 21.8% YoY, pushing up YTDFY23 retail APE growth to 17% YoY from 16.2% till Oct-22. With Diwali festive season being in October this year (vs. November in 2021), November numbers were expected to be better, but this strong performance came as a positive surprise." Check details below:

Name of companyPotential return
ICICI Prudential Life Insurance Company Ltd34%
Max Financial Services Ltd32%
SBI Life Insurance Company Ltd32%
HDFC Life Insurance Company Ltd16%
LICHold

1. Buy ICICI Prudential Life Insurance Company Ltd

1. Buy ICICI Prudential Life Insurance Company Ltd

Emkay Global has given buy call to ICICI Prudential Life Insurance stock with a target price of Rs 620 apiece. The current market price of the stock is Rs 462 apiece. If you buy ICICI Prudential Life Insurance Company Ltd today, you will get 34% potential return.

The company has a market capitalisation of Rs 66,526.12 crore. The stock has given maximum 22% return in last 5-years.

2. Max Financial Services Ltd
 

2. Max Financial Services Ltd

The analyst has given buy call to Max Financial stock with a target price of Rs 930 apiece. The current market price of Max Financial is Rs 707 apiece. If you buy Max Financial Services Ltd, you will get 32% return.

The company has a market capitalisation of Rs 24,399 crore. The stock has given 37% return in last 3-years and declined 27% in last 1-year.

3. Buy SBI Life Insurance Company Ltd

3. Buy SBI Life Insurance Company Ltd

The brokerage firm has assigned buy call to the stock with a target price of Rs 1675 apiece. The current market price of the stock is Rs 1267%. If you Buy SBI Life Insurance Company, you will get potential 32% return.

It has a market capitalisation of Rs 1,26,804.59. The stock has given maximum 85% return in last 5-years.

4. Buy HDFC Life Insurance Company Ltd

4. Buy HDFC Life Insurance Company Ltd

The analyst has assigned buy rating to HDFC Life with a target price of Rs 670 apiece. The current market price of the stock is Rs 577 apiece. If you buy HDFC Life Insurance Company Ltd at the current market price, you will get 16% return.

The stock has give maximum 48% return in last 5-years. It has a market capitalisation of Rs 1,24,121.53 crore.

5. Hold LIC

5. Hold LIC

Emkay Global has assigned hold rating to LIC stock with a target price of Rs 750 apiece. The current market price of the stock is Rs 662 apiece. The company has a market capitalisation of Rs 4,19,125.97 crore. The stock has given maximum 4% return in last 1-month.

Disclaimer

Disclaimer

The stocks have been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Story first published: Friday, December 9, 2022, 7:40 [IST]
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