HDFC Securities is bullish on GIC Reinsurance has recommended buy rating on the stock with a target price of Rs 185 in its research report dated June 29, 2020.
HDFC Securities' research report on GIC Reinsurance
Higher losses in agriculture and aviation led to increased 4QFY20 claims ratio of 89.1%, +1,917/-1,788bps YoY/QoQ. This resulted in underwriting losses of Rs 7.2bn. Investment income was hit by higher provisions of Rs 3.8bn bringing yield down to 7.7%. 4QFY20 APAT was Rs 12.2bn (+37.5% YoY).
FY22E P/ABV of 0.6x result ...
Read the full text moneycontrol