SBI Life Insurance shares hit all-time high, touch Rs 1,800 mark for first time; can you still join the party?

SBI Life Insurance Shares: SBI Life Insurance Company (SBILIFE) shares registered a record high on Wednesday, rising for a second straight day and surpassing an earlier peak of Rs 1,790 scaled on August 1. On BSE, the life insurance stock gained by as much as Rs 38.3 - or 2.2 per cent - to an all-time high of Rs 1,800.1 apiece, taking its gains to about eight per cent in two days. Many analysts have positive views on SBI Life Insurance Company, a joint venture between State Bank of India (SBI) - the country's largest lender - and BNP Paribas Cardif SA.

Should you buy, sell or hold SBI Life Insurance Company (SBILIFE) shares now? Here's what analysts make of the life insurance stock

Earlier on Wednesday, Zee Business analyst Kushal Gupta gave a 'buy' call on SBI Life Insurance Company shares for a 12-month target of Rs 2,100. At Tuesday's closing price, Gupta's target implies a potential upside of 19.2 per cent in the stock.

Recently, HSBC kept its 'buy' rating on SBI Life Insurance Company shares with a revised target price of Rs 1,850 instead of the Rs 1,790 earlier. 

Bernstein maintained its 'outperform' rating on SBI Life Insurance Company with a target price of Rs 2,270, implying an upside of 28.8 per cent from Tuesday's closing price and 26.2 per cent from the latest record high. 

SBI Life is a good stock in the life insurance space given several positives including the company's return on capital employed (RoCE) of 15 per cent, said Gupta. RoCE is a key measure of a company's financial efficiency. 

On Tuesday, SBI Life Insurance purchased additional 7.75 lakh shares in Krishna Institute of Medical Sciences (KIMS) for Rs 184 crore through open market transactions. The shares transactions took place at an average price of Rs 2,373.3 apiece.

According to block deal data available on BSE, SBI Life Insurance Company bought 7,75,758 shares, amounting to a 0.97 per cent stake in KIMS.

In February, SBI Life Insurance Company had bought a 1.4 per cent stake in KIMS for Rs 239 crore. Read more

What does SBI Life Insurance Company do?

Incorporated in October 2000 and registered with insurance regulator IRDAI in March 2001, SBI Life Insurance is one of the most trusted life insurance companies in the country. 

SBI Life Insurance Company offers a diverse range of products catering to individual and group customers through its protection, pension, savings, and health solutions.

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