HDFC Life Insurance shares jump 4%; here’s why
The stock trades near its 52-week high of ₹659.90 touched on June 21, 2023, while it has risen 43% against its 52-week low of ₹457.95 hit on March 16, 2023.
The stock trades near its 52-week high of ₹659.90 touched on June 21, 2023, while it has risen 43% against its 52-week low of ₹457.95 hit on March 16, 2023.
The CCI’s decision to allow HDFC to own over 50% stake in HDFC Life could be a positive for the insurance company as this removes the overhang of RoE dilution in the merged entity.
Abrdn Plc, previously known as Standard Life, was expected to sell 4.3 crore shares in the company through a block deal at a price band of ₹564-578.5 apiece.
HDFC Life covered 5.4 crore customers in FY22, registering an increase of 36% over FY21, and settled close to 3.9 lakh claims during FY22.