HDFC Life Insurance Company rises on getting IRDAI`s nod to merge Exide Life Insurance with itself
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HDFC Life Insurance Company is currently trading at Rs. 523.40, up by 2.75 points or 0.53% from its previous closing of Rs. 520.65 on the BSE.
The scrip opened at Rs. 530.25 and has touched a high and low of Rs. 533.45 and Rs. 523.20 respectively. So far 34850 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 725.00 on 15-Nov-2021 and a 52 week low of Rs. 497.30 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 534.70 and Rs. 518.05 respectively. The current market cap of the company is Rs. 113053.65 crore.
The promoters holding in the company stood at 51.52%, while Institutions and Non-Institutions held 34.58% and 13.91% respectively.
HDFC Life Insurance Company (HDFC Life) has received final approval from The Insurance Regulatory and Development Authority of India (IRDAI) to merge Exide Life Insurance Company with itself. In January this year, HDFC Life acquired 100 per cent stake in Exide Life Insurance Company from its parent firm Exide Industries for Rs 6,687 crore in order to increase its presence in the south India market. With the transfer of its life insurance business to HDFC Life, Exide Industries acquired 4.12 per cent stake in HDFC Life.
HDFC Life Insurance Company is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.
