SBI Life Insurance Company rose 1.18% to Rs 1150.25, amid heavy volumes.
On the BSE, 1.92 crore shares of the company were traded in the counter so far as against an average trading volume of 7.15 lakh shares in the past three months.
On the NSE, 41.11 lakh shares of SBI Life changed hand in the counter so far compared with an average trading volume of 17.60 lakh shares traded in the past one quarter.
On a year-to-date (YTD) basis, the stock has gained 27.07% while the benchmark Sensex has added 13.87% during the same period.
According to media reports, CA Emerald Investments, an affiliate of Carlyle Group, intends to sell its entire 1.9% stake in SBI Life Insurance Company. It will sell 1.90 crore shares at Rs 1,130- Rs 1,136.85 apiece, the reports added.
CA Emerald Investments held 1.90 crore shares (equivalent to 1.9% stake) of the company as on 30 June 2021.
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SBI Life Insurance Company is one of the leading life Insurance companies in India. The company has distribution network of 225,381 trained insurance professionals consisting of agents, CIFs and SPs along with 947 offices across country.
The life insurance company reported 43% fall in net profit to Rs 223.16 crore in Q1 FY22 from Rs 390.89 crore registered in Q1 FY21. Net premium income increased 9.55% to Rs 8312.55 crore in Q1 FY22 over Q1 FY21.
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