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Shares of the company have jumped nearly 66% to Rs 1,966 in the past one year till September 2, 2021.
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The process for the merger of Exide Life into HDFC Life will be initiated on completion of the acquisition.
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Milan Vaishnav of Gemstone Equity Research and Advisory said that the Indian equity market has been showing a lot of strength at present.
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The current relaunch of the EM bull market is accompanied by stalled trends in the US dollar.
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The current rally is supported by the sequential recovery of key high-frequency indicators such as Manufacturing PMI, the GST collection.
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HDFC Life will issue 8,70,22,222 shares at an issue price of Rs 685 per share and a cash payout of Rs 726 crore aggregating to Rs 6,687 crore.
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Chandan Taparia of Motilal Oswal Financial Services is positive on Ease My Trip with a target price of Rs 500.
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Sensex surpassed the 58,000-mark as it jumped 200 points or 0.35% to 58,053 and the Nifty 50 was quoting at 17,289 advancing 55 points or 0.32%.
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Shares of Granules India will be in focus today as the company has received licence from DRDO to manufacture and market of 2- Deoxy-D-Glucose (2-DG).
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Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.