Jefferies and Kotak Institutional Equities have recommended a “Buy” on HDFC Life Insurance Company with a projected 20-28% upside. The optimism is based on its current business performance and growth outlook. Jefferies and Kotak are anticipating a higher than industry average annual premium equivalent growth rate for HDFC Life Insurance Company. Kotak considers HDFC Life a “conviction” buy. Meanwhile, low sensitivity to interest rates also positions life insurance companies better than banks, says Jefferies.
