HDFC Life Rating ‘Neutral’; Valuation is dear for buy of sub-par biz
With an improvement in persistency and operating leverages, VNB margins will materially improve over the medium term, in our view. HDFC Life announced the acquisition of Exide Life on 03 September 2021 (subject to regulatory approval) for a consideration of Rs 66.9 bn (Rs 7.3 bn in cash and will issue ~87mn new shares to […]