SBI Life shares retraces from 52-week high. Should you buy, hold or sell?

Market


SBI Life share price ascended to its new 52-week high on 17th January 2022 and since then it has been under retracement. In last one month, SBI Life shares have fallen more than 10 per cent, catching attention of positional investors who are looking for value picks available at attractive valuations.

According to stock market experts, SBI Life has reported strong quarterly numbers as its provisioning has gone down in the wake of ease in Covid-stress. They said that short term investors can add this stock in their portfolio for the target of 1300 whereas long-term investors have been advised to invest in SIP mode.

Speaking on SBI Life shares for short term; Anuj Gupta, Executive Director at IIFL Securities said, “The SBI group share has been under retracement for last one month. It has shed around 10 per cent after hitting new 52-week high. The stock has strong support at 1055 levels and one can buy SBI Life shares at current levels for short term target of 1300 maintaining stop loss at 1055 apiece levels.” He advised investors to keep accumulating till the stock is above 1080 apiece levels.

For those who still have this stock in their portfolio, Anuj Gupta of IIFL Securities said that they should further hold the stock maintaining trailing stop loss at 1055 apiece levels.

Advising positional investors to invest for long-term; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “SBI Life is a subsidiary of State Bank of India and after listing of LIC shares, other insurance stocks are expected to face difficulty in attracting high net worth investors for some time. So, positional investors are advised to keep long-term view and invest in SIP mode. This will enable investors to maximise one’s benefit in long-term.”

SBI Life share price history

On 17th January 2022, SBI Life share price shot up to its new 52-week high of 1,293.25 whereas its 52-week low is 845.10 on NSE. Its current market capitalization is 1.16 lakh crore. SBI Life shares’ current trade volume is around 11.99 lakh which is much below from its 20 days average volume of 14.51 lakh. Its P/E ratio is 84.81, which is slightly higher from the average sector P/E ratio of 82.69.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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