Why are domestic & foreign institutional investors gung ho on this insurer?

Analysts expect SBI Life stock to outperform peers over the next one-two years, riding on the stock growth prospects for the sector

As the second wave of the Covid-19 pandemic gripped India, it resulted in an increased demand for insurance products. The institutional players on the Street saw it as an opportunity and lapped up shares of the largest private player - SBI Life Insurance Company. Moreover, an impressive March quarter show made them even more gung-ho on the prospects of the firm.

As recent as Friday, Carlyle offloaded its 4.2 per cent stake in the firm, and more than three dozen institutional investors bought the shares. Meanwhile, the shareholding pattern for the quarter ended March 2021 (Q4FY21) also shows that foreign