Shares of SBI Life fell after board approval for a Canadian pension plan

Shares of SBI Life fell after board approval for a Canadian pension plan

 Shares of SBI Life tumbled to close at Rs 1,220 crore on the back of a report from the Canadian Pension Plan Investment Board that it would sell about 2.756 per cent of its 2.86 per cent stake in SBI Life in the open market in a price band of Rs 1,160 to Rs 1,220 per share. It fell 3.8 percent to close at 1173 Is. The volume was recorded 83 times due to the block deal.

The Canadian fund is expected to return 111 per cent in about two and a half years from the sale. Life insurance Other counters in the segment include ICICI Pvt. Life fell 2.7 per cent to Rs 697 yesterday, HDFC Life fell one per cent to Rs 737 and Max Fi. General Insurance Corporate in the non-life insurance sector closed at Rs.1085. New India Assurance was down 0.4 per cent at Rs 159, down half a per cent to Rs 159, and ICICI Lombard was up half a per cent at Rs 1,621.  By the way SBI Life's price recently touched a Best of 1253 on Sept.3 Level was gone Oct. At the end of the 20th the stock went to the bottom of the year of 755.

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