HDFC Life shares jump 5% on stellar Q1; brokerages raise price targets
Updated : July 24, 2019 10:19 AM IST
Shares of HDFC Life gained nearly 5 percent after the company reported an 11.7 percent year-on-year (YoY) profit.
The value of new business for HDFC Life doubled to Rs 509 crore in Q1FY20 compared to Rs 249 crore a year ago.
Citi upgraded the stock to 'buy' from 'sell'. It also raised its target price to Rs 600 from Rs 390 earlier.