HDFC Life surges 9% in 2 days to hit 52-week high on solid Q1 performance

The management has guided for strong APE growth in the next 9 months, depicting its confidence of continuing strong growth in the non-par segment in near to medium term

Shares of HDFC Life Insurance Company soared 5 per cent intra-day to hit a new 52-week high of Rs 533 apiece on the BSE on Wednesday. The stock has surged 9 per cent in past two days after the company reported a strong 47 per cent year on year (YoY) growth in the new business premium at Rs 3,926 in the first quarter of fiscal 2020 (FY20), and is nearing its all-time high level of Rs 547, touched on May 14, 2018 in the intra-day trade.

The insurer posted 12 per cent YoY increase in net profit at Rs 425