HDFC Life Insurance Company

I can see a lot of positives here to feel good about the stock
First, despite regulatory headwinds their performance has been decent. Second, they are outperforming many of their peers on key metrics such as VNB, APE etc. Third, big chunk of insurance market share is with a PSU (LIC) and I would bet on HDFC (or any well run private insurance player) to eat into that. Last, insurance penetration is still quite low in India (I believe among the lowest in G20 countries) and is projected to grow at steady rate.

So essentially for HDFC Life, my bet is not on just an increasingly larger share of current pie but a growing pie itself. I expect 1-2 quarters of further wait before we start seeing encouraging action in stock prices.

Disc- Invested and continue to add on dips