HDFC Life hits 52-week low on lower-than-expected December quarter results

Shares of HDFC Life Insurance hit a 52-week low of Rs 623, down 3 per cent on the BSE in Monday’s intra-day trade after the company reported a lower-than-expected 3.3 per cent year-on-year (YoY) rise in net profit at Rs 273.7 crore for the quarter ended December due to a decline in income from investment.

The stock of the private insurance firm fell below its previous low of Rs 627 hit on December 20, 2021. At 12:54 pm, it was down 2.2 per cent at Rs 627, as compared to a 2.12 per cent decline in the S&P BSE Sensex at 57,785 points.