It also said it is expeditiously working on the process of integrating all these policyholders (of Sahara India Life) in its systems
Analysts expect stocks to remain under pressure in the near-term as the government's new tax regime push, with no tax saving deductions, could hurt demand for insurance products
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
Analysts positive on most of the stocks, especially SBI Life, HDFC Life and LIC
On the broader market outlook, the technical & derivative analyst from HDFC Securities expects the near term trend on the Nifty to remain bearish as long as the index stays below 18,141.
Kotak Institutional Equities has initiated coverage on Life Insurance Corporation of India (LIC) with a 'buy' rating and a fair value of Rs 1,000
Among individual stocks, even as SBI Life trades record high the stock has been unable to enter unchartered territory. The proposed changes to the sector may help revive sentiment going forward.