Lower growth estimates likely to keep HDFC Life stock under pressure

HDFC Life reported Q3FY24 annual premium equivalent (APE) at Rs 3,190 crore which was more than 10 percent below consensus and down 4.5 percent Y-o-Y

HDFC Life Insurance Company (HDFC Life) shocked the Street when it missed consensus growth estimates by a wide margin. As a result, the stock saw selling pressure. However, analysts pointed out that it managed to hold on to margins and the merger of group leaders HDFC and HDFC Bank has gone well. HDFC Life reported third quarter of financial year 2023-24 (Q3FY24) annual premium equivalent (APE) at Rs 3,190 crore, which was more than 10 per cent below consensus and down 4.5 per cent year-on-year (Y-o-Y). The low growth led to a 1.7 per cent Y-o-Y lower value of new