Share prices of SBI Life Insurance surged to an intraday high of Rs 1,334.70 during early morning deals on the NSE on Friday. The stock also hit a new 52-week high before paring the gains due to profit booking.
On the NSE, the stock opened at Rs 1,320, against the previous close of Rs 1,324.20. The scrip closed at `1,295, down by 2.21%, on a day when the Nifty fell 1.10% to settle at 17,758.45 amid profit taking and weak global market trends.
On the BSE, the stock also hit a new 52-week high of Rs 1,330. The scrip on the BSE closed 2.05% lower at Rs 1,296.80 apiece.
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Notably, among major insurers in the private sector, SBI Life’s new business premium for July grew 29.08%.
YoY to Rs 2,324.26 crore, while for HDFC Life Insurance, it was down by 5.70% YoY to Rs 1930.87 crore.