Bernstein sees further upside in life insurance stocks; prefers Max Financial
Bernstein has retained a positive view on Indian life insurance stocks, saying there is still room for returns despite their strong run-up over the past year.
Drivers for the sector:
Growth and margin expansion outlook improving
Reversal in regulatory pessimism supporting valuations
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Bernstein prefers Max Financial over SBI Life and HDFC Life, and remains Neutral on ICICI Prudential Life and LIC.
Disclaimer: The views and target prices mentioned in this article are as stated by Bernstein. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
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