Shares of HDFC Life Insurance Company settled for the day with gains of over 1 per cent after the UK-based investment company Abrdn said it is planning to sell 4.3 crore shares in the private sector insurer through block deal. Abrdn is planning to sell up to 4.3 crore shares, representing 2 per cent of HDFC Life's outstanding shares through a block deal to raise over Rs 2,425 crore. On BSE, HDFC Life stock opened at Rs 601, and touched an intra-day high of Rs 606 and a low of Rs 585.35 during the trading session. The stock finally settled at Rs 586.90, up 1.21 per cent from its previous closing price. At the end of Tuesday's trading session, the market capitalisation of HDFC Life Insurance Company stood at Rs 1,24,027.23 crore. On the NSE, shares of the company opened at Rs 605 apiece, and finally ended the day at Rs 586.50, higher by 1.37 per cent from its previous closing price. The 30-share Sensex rose 455.95 points or 0.76 per cent to close at 60,571.08 points. The broader Ni
Stocks to Watch: Abrdn, formerly Standard Life, is looking to sell 2 per cent of its stake in private sector insurer HDFC Life via block trades on Tuesday
Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr
Vibha Padalkar talks about the company's performance in Q1 and its growth plans going forward
Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.
VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%
Z3 Partners has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan
Analysts are more bullish on stocks of private insurers
According to the technical analyst from Anand Rathi, Balkrishna Industries is showing immense strength on the 2-hour chart, while the weekly chart of HDFC Life indicates a sharp up move.
There has been a brisk rally in these stocks, despite a weakness in the broader market
Except for Max Financial Services other insurance related shares seem to be on a weak ground, indicate technical charts.
Stocks to Watch Today: Shares of Bajaj Auto, Hindustan Unilever and Indian Hotels are likely to be in focus as the companies report Q4 results on Wednesday.
Company is a steady performer and it is 'comfortably beating' the Sensex's performance, says the top executive.
HDFC, HDFC Bank, HDFC AMC and HDFC Life were underperforming the market by falling in the range of 3 per cent to 4 per as against a 1.7 per ent decline in the S&P BSE Sensex.
An increase in retention limit means the insurer increases the degree of risk it retains on its balance sheet
In Q3FY22, the company's gross premium income remained healthy with a 27 per cent increase to Rs 12,255 crore, led by traction in renewal premium and new business premium.
Axis Bank, HDFC AMC, Indian Energy Exchange, SBI Cards, Shriram Transport Finance, Steel Strips Wheels, and Zensar Technologies to announce results today.
Shares of the major private insurers, HDFC Life and ICICI Prudential are seen testing key support levels currently.
The life insurance industry saw massive disruptions in the initial period of the pandemic
The markets are likely to react to Reliance and ICICI Bank results at the opening bell today