HDFC Life slips in a firm market amid profit booking post Q4 results

Analysts at Kotak Institutional Equities believe HDFC Life's rich valuation caps its upside

HDFC Life shares slipped 2 per cent to Rs 692, in an otherwise strong market, on the BSE on Tuesday as investors booked profit on the counter post healthy March quarter (Q4FY21) results. At 9:55 AM, the stock was trading at Rs 694 apiece, down 1.6 per cent on the BSE, as against a 0.5 per cent rise in the S&P BSE Sensex.

Private sector life insurer HDFC Life, on Monday, reported a 2 per cent jump in net profit (on a standalone level) to Rs 317.94 crore in Q4FY21, from Rs 311.71 crore posted in the same period last year.