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SBI Life: Street upbeat over sturdy H1FY20; stock hits all-time high

Stock at life high with the potential for further gains after firm posts strong growth in business

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A strong performance by SBI Life Insurance Company (SBI Life) for April-September 2019 (first half of 2019-20, or H1FY20) — announced on Tuesday late evening — boosted the Street’s confidence. The stock hit its all-time high at Rs 891.95 on Wednesday before ending the session at Rs 877.4 — an increase of 4.5 per cent. In fact, SBI Life’s strong performance also rubbed off positively on the other two large private insurers’ stocks — ICICI Prudential Life and HDFC Life — which gained 2-3 per cent on Wednesday. While the gross written ...