SBI Life climbs 4% as brokerages raise price target after Q4 earnings

Brokerages remained positive on the stock and raised their price targets after solid earnings growth in Q4.

SBI Life Insurance Company shares rallied 4.6 percent in the morning trade on April 26 as brokerage houses raised price target on the stock after March quarter earnings.

The stock was quoting at Rs 637.85, up Rs 22.90, or 3.72 percent on the BSE, at 1036 hours IST.

SBI Life Insurance's March quarter profit grew by 20 percent to Rs 457.68 crore and total income also increased a whopping 55 percent to Rs 15,600.97 crore in Q4 YoY.

For the financial year 2018-19, SBI subsidiary reported net profit at Rs 1,326.80 crore, registering a growth of 15.4 percent over the previous year.

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