Financial Services Stock Sets Record Date For Dividend, Buy For 64% Return: HDFC Securities

Board of directors of large cap financial services stock, SBI Life Insurance Company Ltd are scheduled to hold a meeting on March 8, 2023 to consider and approve interim dividend for the financial year 2022-23. It has already set March 16, 2023 as record date for payment of interim dividend. HDFC Securities has recommended buy call with target price of Rs 1850 apiece and likely return of 64%.

SBI Life Insurance Company Ltd Fixes Record Date For Dividend: According to the BSE filing of the company, "Meeting of the Board of Directors of the Company is scheduled on 08/03/2023, inter alia, to consider and approve Interim Dividend on equity shares of the Company for the Financial Year 2022-23, if any. The Record date for determining the shareholders for the payment of Interim Dividend for FY 2022-23, if any, declared by the Board of Directors of the Company shall be Thursday, March 16, 2023."

SBI Life Insurance Company Stock Performance & Return: Current market price of SBI Life Insurance stock is Rs 1129.50 apiece on BSE. Its 52-week high is Rs 1339.55 apiece and 52-week low is Rs 1003.60 apiece, respectively. Its market capitalisation is Rs 1,13,049.26 crore.

The stock delivered over 6% return in last 1-year, 32% in last 3-years, and 72% in last 5-years. It fell 13% in last 6-months and 12% in last 3-months.

SBI Life Insurance Company Valuation: According to HDFC Securities, in its report date January 23, 2023, "We expect SBILIFE to deliver a healthy FY22-25E APE/VNB CAGR of 17/22% and retain BUY with an unchanged TP of INR1,850 (3x Sep-24E)." While the management continues to remain upbeat about growth in the NPAR savings business (+3% QoQ), we continue to watch out for stronger sequential trends.

SBI Life Insurance Company About: SBI Life Insurance was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions, according to its official website.

The stock has been picked from the brokerage report of HDFC Securities. 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.