Motilal Oswal has recommended buying shares of HDFC Life Insurance Company with a target price of Rs 750. Currently, the market price of HDFC Life Insurance Company is Rs 637.85.
Company Overview
HDFC Life Insurance Company Ltd. was established in the year 2000 and operates as a large-cap company in the financial services sector, with a market capitalization of Rs 137,240.99 crore.
Financial Performance
For the quarter ending June 30, 2024, HDFC Life Insurance Company reported a consolidated total income of Rs 27,023.49 crore. This represents a decrease of 4.23% from the previous quarter but an increase of 15.07% compared to the same quarter last year. The company’s net profit after tax for the latest quarter stood at Rs 478.97 crore.
Ownership Structure
As of March 31, 2024, promoters hold 50.37% stake in HDFC Life Insurance Company, while FIIs own 30.02% and DIIs own 7.93%.
Motilal Oswal’s recommendation reflects positive outlook on HDFC Life Insurance Company’s potential growth in the market.
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