Life insurance is a preferred sector, Varun Lohchab, head, institutional research at HDFC Securities told CNBC-TV18. Lohchab further added that HDFC Securities is overweight on the sector and SBI Life and Max Financial are their top picks.
According to Lohchab, pandemics in the past have provided a boost to life insurance companies globally. He believes the same to play out in India and hence, sees the sector as a COVID-19 beneficiary.
He further added that though valuations are expensive, they are willing to remain invested in the space.