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Emkay Global Picks 6 Insurance Sector Stocks To Invest, Sees Robust Gains Up to 42%, Buy

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Leading brokerage Emkay Global picks the top 6 stocks from the Insurance sector with a "Buy" call for gains up to 42%. These stocks are HDFC Life Insurance, ICICI Lombard General Insurance, ICICI Prudential Life Insurance, Max Financial, SBI Life Insurance, and Star Health.

 
StocksTarget Price (Rs)Potential Upside
HDFC Life Insurance67013.00%
ICICI Lombard147020.00%
ICICI Pru Life62031.00%
Max Financial93030.00%
SBI Life167530.00%
Star Health86042.00%

The brokerage in the report has stated, with the aim to increase insurance penetration and enable product innovation, the government of India (GoI) has proposed amendments to the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999. The proposed amendments broadly empower sector-regulator IRDA to take most decisions related to the sector on an ongoing basis, by removing and modifying a number of existing regulatory specifications as static reference in the various sections of the Act itself, as well as inserting some new sections.

HDFC Life Insurance Company Limited

HDFC Life Insurance Company Limited

The brokerage has placed a buy call on the stock with a target price of Rs 670/share. Considering the given target price and the Current market price, the stock could give up to 13%. HDFC Life Insurance is a large-cap company having a market cap of Rs 1,24,444 crore.

HDFC Life Insurance stock today opened at Rs 588/share, currently trading at Rs 593.55/share, 0.79% up from its previous close on NSE. Its 52-week high is Rs 698.85 and its 52-week low is Rs 497.05, respectively.

The stock has given positive returns over the past 5 years, 61.16% positive returns. However, in the past 1 year, it fell by 13.23%. In the past 1 month, it gave 10.08% positive returns. Whereas, it has given 3.24% positive returns in 3 years.

 

 ICICI Lombard General Insurance Company Limited
 

ICICI Lombard General Insurance Company Limited

ICICI Lombard is the 2nd large-cap company on the list with buy call having a market cap of Rs 60,735.13 crore. The brokerage assigned a buy call on ICICI Lombard with a target price of Rs 1,470/share, sees a potential upside of 20% from its current level.

The stock on NSE last traded at Rs 1226.80/share, 0.28% up from its previous close. Its 52 week high is Rs 1,472, recorded on 10 January 2022 and Its 52-week low is Rs 1,071, recorded on 13 June 2022, respectively.

The stock grew 4.6% in 1 week, and 5.91% in 1 month, respectively. In 1 year, it fell by 13.36%, and in 3 years, it fell by 9.65%, respectively. In 5 years, it gave a maximum of 69.24% returns to shareholders.

 

ICICI Prudential Life Insurance Company Limited

ICICI Prudential Life Insurance Company Limited

ICICI Pru Life is the 2nd ICICI Group stock on the list. It is a large-cap stock having a market cap of Rs 68,848.28 crore. The brokerage suggests buy the stock with a target price of Rs 620/share to get a decent return of up to 31% if the stock is purchased today.

The stock on NSE is trading at Rs 475.75/share. Today it opened at Rs 475.80/share. The 52 week high level of the stock is Rs 648.85 recorded on 18 January 2022, and the 52 week low is Rs 430 recorded on 8 march 2022, respectively.

The stock grew 0.94% in 1 week, however, in the past 1 and 3 months, it fell by 7.59% and 19.56%, respectively. In 1 year, it fell by 18.84% and in 3 years, it fell by 3.43%, respectively. In 5 years, it gave 29.47% positive returns.

 

Max Financial Services Limited

Max Financial Services Limited

Max Financial is a mid-cap Insurance company having a market cap of Rs 24,936.27 crore. It owns and actively manages a majority stake in Max Life Insurance, India's largest non-bank life insurer and 4th largest private life insurance company.

The brokerage has placed a buy call on the stock with a target price of Rs 930/share. It sees a potential upside of 30% from its current level. The stock is currently trading at Rs 715.80/share, 0.79% down as compared to its previous close. It recorded its 52 week high at Rs 1,080.70 and 52 week low at Rs 625.20, respectively.

In a week, the stock surged by 3.02%, and in 3 months, fell by 10.57%, respectively. Over a year, the stock moved down by 25.07%. However, it has given 38.4% positive returns in 3 years and 35.09% positive returns in 5 years, respectively.

 

 SBI Life Insurance Company Limited

SBI Life Insurance Company Limited

SBI Life is a large cap Insurance company backed by SBI Group. It has a market capitalisation of Rs 1,29,326 crore. Emkay Global Assigned a buy call on SBI Life stock with a target price of Rs 1,675/share. With the given target price, the stock is likely to give 30% returns on investments.

The current market price (CMP) of the SBI Life on NSE is Rs 1,290.65/share, trading 0.47% up as compared to its previous close. It opened today at Rs 1,286/share. Its new 52 week high level is Rs 1,340 and its 52 week low level is Rs 1,003.50, respectively.

The stock in the past 1 week and 1 month grew 2.46% and 1.87%, respectively. In 1 year it has given 12.26% positive returns. In 3 years, it has given 33.72% positive returns. In 5 years, it gave a maximum of 96.51% positive returns.

 

Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited

Star Health is India's first Standalone Health Insurance provider. It is a mid-cap insurance company with a market capitalisation of Rs 35,401.35 crore. Emkay Global recommends buy the stock of the company with a target price of Rs 860/share. It sees a potential upside of 42% from the current level.

The share price of Star Health on NSE is Rs 609.65/share, 2% down from its previous close. Its 52-week high is Rs 940 and its 52-week low is Rs 469.05, respectively.

The stock listing on the stock exchange on 10 December 2021 and since its listing date it has given a 33.04% negative return. In a week, it fell by 5.14%, and in 1 month, fell by 13.34%, respectively. In 3 months, 19.2% negative returns.

 

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 making any investment decision.

 

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