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Indian life insurers show strong preference for midcap firms


Five of India’s leading life insurers – ICICI Prudential Life, SBI Life, HDFC Life, Tata AIA Life, and Kotak Life – have shown a strong preference for midcap firms Indian Hotels Ltd (IHCL), Federal Bank Ltd, and Bharat Forge Ltd at the end of September.

IHCL attracted ₹1,991 crore due to its operational efficiency and a zero-debt balance sheet. Federal Bank secured ₹1,782 crore following a 20% year-on-year advance rise and a 23% deposit increase. Bharat Forge drew in ₹1,641 crore with an anticipated 30.1% year-on-year revenue growth, EBITDA margins at 17%, and a profit rise of 13.4%.

Other midcap companies that were favored include Ashok Leyland, Nykaa, Voltas, Persistent Systems, Ramco Systems, AU Small Finance Bank (SFB), Astral Pipes, Balkrishna Industries, Cummins (NYSE:CMI), and M&M Financial.

In the smallcap sector, Krishna Institute of Medical Sciences Ltd (KIMS), Affle India, and Redington India were the preferred choices. KIMS led the pack with investments amounting to ₹677 crore (INR100 crore = approx. USD12 million).


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