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SBI Life Insurance Company stocks: Buy SBI Life Insurance Company, target price Rs 1350: ICICI Direct

  • May 23, 2023
ICICI Direct has buy call on SBI Life Insurance Company with a target price of Rs 1350. The current market price of SBI Life Insurance Company is Rs 1136.85.

SBI Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 113806.74 Crore) operating in Financial Services sector.

SBI Life Insurance Company key Products/Revenue Segments include Premiums Earned and Other Operating Revenue for the year ending 31-Mar-2022.

Financials

For the quarter ended 31-03-2023, the company has reported a Standalone Total Income of Rs 21310.74 Crore, down -20.57 % from last quarter Total Income of Rs 26829.77 Crore and down -1.64 % from last year same quarter Total Income of Rs 21666.15 Crore. Company has reported net profit after tax of Rs 776.85 Crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Khara, Mr.Mahesh Kumar Sharma, Ms.Usha Sangwan, Dr.Tejendra Mohan Bhasin, Mr.Narayan K Seshadri, Mr.Deepak Amin, Mr.Shobinder Duggal, Mr.Ashwini Kumar Tewari. Company has S C Bapna & Associates as its auditors. As on 31-03-2023, the company has a total of 100 Crore shares outstanding.

Investment Rationale

SBIL’s share price has grown ~45% in the past three years. Lower proportion of high ticket business, strong distribution and diversified product mix along with lowest cost on relative basis is seen aiding business growth as well VNB margin. The stock is reasonably priced and is currently trading at 1.9xFY25E embedded value.

Promoter/FII Holdings
Promoters held 55.45 per cent stake in the company as of 31-Mar-2023, while FIIs owned 25.14 per cent, DIIs 15.09 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, … Read the rest

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Special drive in UP to provide crop insurance to farmers

  • July 5, 2022
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Published: Published Date – 09:57 AM, Wed – 29 June 22

Special drive in UP to provide <a href=crop insurance to farmers“/

Lucknow: The Uttar Pradesh government will be launching a special drive to provide insurance coverage to farmers against potential crop damage.

The drive, slated to begin from the first week of July by the agriculture department, will be flagged off by Agriculture Minister Surya Pratap Shahi.

It will cover those development blocks which have lower farm insurance coverage under the Centre’s ambitious PM Crop Insurance Scheme (PMCIS).

According to UP government sources, till date, compensation of Rs 3,074.6 crore has been deposited in the accounts of 27.5 lakh farmers in UP under PMCIS.

This includes payment of crop compensation of Rs 654.8 crore to over 7 lakh farmers in Kharif season 2021. In Rabi 2021-22, an area of ​​14.2 lakh hectares has been insured by 19.9 lakh farmers.

According to a directive issued by additional chief secretary, agriculture, Devesh Chaturvedi, the drive would cover selected development blocks in the eight aspirational districts – Bahraich (Risia block), Shravasti (Sirsia), Balrampur (Utraula), Siddharth Nagar (Latan), Fatehpur (Bijaipur), Chitrakoot (Ramnagar) and Chandauli (Niyamtabad).

The value of damage incurred to crops in UP is more than doubled between 2018-19 and 2019-20, as per Union agriculture ministry data.

Prepared on the basis of state-wise business statistics as on August 31 last year, the data shows that the reported crop loss claims shot up from around Rs 470 crore in 2018-19 to over Rs 1,116 crore in 2019-20.

As against the claimed loss, the paid claims amounted to Rs 1,092 crore in 2019-20 as against around Rs 40 crore in 2018-19. The number of farmers who benefitted from the PMCIS rose from 6 lakhs in 2018-19 to over 9 lakhs in 2019-20, the data shows.

Sources said farmers’ participation

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