Shares of HDFC Life Insurance Company Ltd. declined up to 4% on Friday, April 17, making it the top loser on the Nifty 50 after its Q4 results.The company reported a mixed performance, with some key metrics missing estimates. Total Annualised Premium Equivalent (APE) came in at ₹5,254 crore, slightly below the CNBC-TV18 poll estimate of ₹5,329 crore, though it rose 1.3% YoY from ₹5,186 crore.
Value of New Business (VNB) stood at ₹1,261 crore, marginally below the estimate of ₹1,269 crore, but higher than the year-ago figure.However, VNB margins came in at 24%, slightly above estimates of 23.85%, but down from 26.5% last year.
The board approved the issuance of 1.45 crore equity shares to HDFC Bank at ₹688.52 per share on a preferential basis, aggregating to around ₹1,000 crore.
Following the allotment, HDFC Bank’s stake in HDFC Life will increase to 50.54% from 50.21%.
HDFC Life shares are now trading 3.17% lower at ₹611.45. The stock is down nearly 20% so far this year.
