This HDFC Group Company Stock Hit 52- Week Low, Should You Buy?
The shares of the companys the Union Budget 2023 - 24, which was not favourable for the stock.
This was following the recommendations made in the Union Budget 2023 - 24.
Union Budget FY 24, presented in the Indian Parliament on 1- Feb- 2023, appears to have dealt a double blow to the life insurance sector via a couple of crucial changes on the personal income- tax front.
" By tweaking the ' New Tax Regime' ( launched in the FY 21 Budget), the government has attempted to make it attractive - it has brought down taxes under this ' exemption- free' regime
Should you buy the stock of HDFC Life?
Emkay Global has a buy call on the stock of HDFC Life with a price target of Rs 560, implying a decent uptick on the stock from current levels of Rs 480.
Sharekhan on he other hand has a buy call on the stock to Rs 720, though it may not have factored in the budget recommendations as the report was prepared before the Union Budget.
"We expect HDFC Life to deliver 20% VNB CAGR over FY 22 - 25 E, 19 - 20% operating RoEV, with a steady improvement in market share and margins.
The stock has been picked from the brokerage report of Emkay Global and Sharekhan.
Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. advises users to consult with certified experts before making any investment decision.
By Sunil Fernandes Goodreturns source: Dailyhunt