Business Standard

LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends

Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move

The insurance regulator is currently looking into the proposal, an official said
Web Exclusive Premium

Tax levied on premium proceeds of over 5 lakhs in the Budget 2023

Avdhut Bagkar Mumbai
The announcement of taxing insurance proceeds of over Rs 5 lakh premium in the Budget 2023, sent Insurance stocks on a downward spiral on Wednesday.  In the previous budget, exemptions were curbed in unit-linked insurance policies where proceeds exceeded Rs 2.5 lakhs.

Listed players in insurance segment such as ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, and Max Financial Services tanked over 10 per cent, while SBI Life Insurance Company and  Life Insurance Corporation of India tumbled close to 9 per cent on Wednesday.

Since the last budget, the overall trend in these stocks has not been attractive,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 02 2023 | 11:47 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to