SBI Life Share Price: With better quarterly numbers expected from insurance companies in the coming few quarters and being one of the well-managed life insurers, SBI Life shares climbed to record highs in morning deals when it made an intraday high. 1,334.70 each on the NSE. However, profit-booking started soon over the counter and SBI Life shares are currently trading at close range. 1,325 each level.
According to Share Market Experts, post COVID-19, margins of insurance companies are expected to improve and the market expects better quarterly numbers in the short to medium term from insurance companies. Being a well managed insurance company backed by State Bank of India (SBI), SBI Life is one of those quality insurance stocks which is expected to deliver good numbers and good upside movement in this period. Hence the bulls are buying heavily in the shares of SBI Life. He said that those who have this stock in their portfolio, they should counter hold for the short term target. 1,400 levels.
Speaking on the reasons for the increase in SBI Life share price, Avinash Gorakshakar, Head of Research, Profitmart Securities said, “Post-Covid-19, insurers are expected to deliver better quarterly numbers as their margins improve due to reduction in insurance Further, SBI Life is one of the 3 well managed insurance companies which can also benefit from SBI’s backing. Hence, people see the stock of SBI Life rising sharply due to these fundamentals. Buying with.”
Sumeet Bagadiya, Executive Director, Choice Broking, while advising SBI Life shareholders to keep this insurance stock ahead said, “SBI Life Shares has given flag pattern breakout and is still showing an upward trend on the chart pattern. Insurance can go up to stock. from 1,380 1,400 per share level in the short term. Hence, those having this stock in their portfolio are advised to hold the stock for this short term target while maintaining the stop loss 1,290 each level. However, new investors should wait for profit booking as the stock has already gained a lot.”
SBI Life share price today opened with a wide margin and reached its lifetime high 1,334.70 each level, gained close to 1 per cent in Friday’s trading session. Insurance stocks have been in a bullish trend for the past one month, registering a gain of over 13 per cent during this period.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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