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Buy HDFC Standard Life, target Rs 672

Investor looking for a high quality business with consistent earnings growth, this stock offers the best in class investment opportunity to buy at the current levels.

HDFC Standard Life | CMP: Rs 462 | Target: Rs 672+ | Return: 45%

We believe Insurance space is the next rising sector, driven by structural factors such pick-up in the economy, increasing share of insurance products within financial assets, increasing working population and growing urbanization will be key to the growth of insurance sector. Considering optimal scale of operations, efficient use of distribution channels (bank support), healthy persistency ratios and higher new business mix from protection business drives future growth.
On valuation per se, it is trading 6x MCap/EV and trading in premium valuations to its listed peers while we expect this to sustain and the stock to deliver steady returns over the medium term to long term. Investor looking for a high quality business with consistent earnings growth, HDFC LIFE offers the best in class investment opportunity to buy at the current levels.
MORE WILL UPDATE  SOON!!

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