CMP: ₹584.45 

Recommendation: Buy

Investment Horizon: 3 years

Veer Trivedi – Research Analyst

Date – December 01, 2022.

Outlook and view

Life Insurance is a high growth business which is fairly underpenetrated and has a high protection gap. The top four player constitute around 85% of the New Business premium (NBP) of the industry. Thus, as the sector will grow the big players involved are bound to grow too. HDFC Life is one of the major players in this segment. To win at this industry there are essentially two major criteria which are required. A diversified product mix with a focus on protection business and a strong distribution channel backed by a strong bank. HDFC Life fulfills both the criteria effectively. A strong product mix, solid cost efficiency measures and the support from the regulator will ensure a good performance going forward. The stock has witnessed underperformance in recent period. This correction had made the stock available at an attractive price.

Key Positives

Diversified product Mix: HDFC Life has a balanced product mix versus peers. Non-par savings has a share of 31% to its total APE, whereas the Participating share stands at 26% and protection at a healthy 16%. HDFC life had a first mover advantage in the protection business and thus have been able to generate a good market share in this segment.

Strong distribution network: The company has a well-diversified distribution network. The key to winning the market share in Life Insurance is to have a strong Bancassurance presence. Over the years the share of Bancassurance in HDFC Life has grown at a good rate. In FY18 the Banks formed a 47% share in its distribution mix vs 55% in FY22.

Exide merger complimentary for HDFC Life: The acquisition will add 35% to the company’s existing agent base. Further, Exide Life has a significant presence in tier 2-3 cities and down south. This will aid the company to push the growth peddle.

Other metrics robust: In the latest quarter the company generated a strong Return on EV at 19%. The Life Insurer’s persistency ratio stood at 87.1% which improved 120 bps year-on-year. The company’s AUM grew by 17.6% YoY, whereas the total APE witnessed growth of 18.1% YoY.

Key Risks

Stress in HDFC Bank distribution: The growth in the HDFC Bank channel which contributes around 48% of its premium has slowed down. However, post the merger of HDFC Ltd and HDFC Bank, HDFC Life will become the subsidiary of the HDFC Bank and thus there would be alignment with the goals of HDFC Bank and HDFC Life.

Subdued Premium Growth: In the current half year period i.e., H1 FY23 HDFC Life has grown at a slower pace than its peers. The company has also witnessed weakness in its Individual protection segment.

About the company

HDFC Life is a leading Life Insurance provider in India. The company offers Individual and group products for the savings and protection requirements of the customers. The company as of H1 FY23 has a total AUM of INR 2,249 billion. HDFC Life is a joint venture between HDFC Ltd and Standard Life Aberdeen. HDFC Life has a wide distribution network which comprises of individual agents, bancassurance partners, third-party agents etc.

Financials Snapshot

Key Metrics:

Story In charts:

The post Samco’s Picks of the Month – December 2022 first appeared on Support | Samco.

The easiest way to invest in stocks periodically and create wealth in the long term is by the means of the Stock SIP feature available on the Samco Star Backoffice. It helps you make the best of the unpredictable market by adopting a disciplined investment strategy.

Follow the steps given below to start a StockSIP via Samco Star Backoffice.

Step 1: Log in to Samco Star Backoffice using your Backoffice login credentials. If you are logging in for the first time the password will be your PAN in caps.

Step 2: Now select STOCKSIP option in the menu.

Step 3: Search for the stock that you wish to do a SIP in. Let’s take IEX for instance and click on the Setup SIP. 

Step 4: Enter the number of the shares you want to invest in, select a start date for your monthly SIP, then click on Setup & Add to basket.

Step 5: Now you will see a pop-up with all of the SIPs you want to invest in then click on Setup SIP to proceed with the transaction.

Step 6: Validate your SIP transaction with an OTP confirmation and then click on the Proceed button.

Step 7: Congratulations! Your SIP order is placed successfully.

You can even start your Stock SIP journey via using Samco App and refer this link to know How to apply for StockSIP via Samco .

Special Support 

Book a special appointment with our expert team and get support to start your first stock SIP. Choose a time and date that is most convenient to you and receive a callback from our experts at the stipulated time. 

Click on the“Book Appointment Now” button and choose “Understanding Stock SIP – Special Support”. 

Choose your preferred date and time to get a complete demo of the Stock SIP feature. Fill in & confirm your client details on the appointment page and click on “Confirm”.

In case you are facing trouble fixing an appointment, send us an mail at support@samco.in

The post How to place STOCK SIP via Star Backoffice? first appeared on Support | Samco.

The easiest way to invest in stocks periodically and create wealth in the long term is by the means of the Stock SIP feature available on the Samco Star Backoffice. It helps you make the best of the unpredictable market by adopting a disciplined investment strategy.

Follow the steps given below to start a StockSIP via Samco Star Backoffice.

Step 1: Log in to Samco Star Backoffice using your Backoffice login credentials. If you are logging in for the first time the password will be your PAN in caps.

Step 2: Now select STOCKSIP option in the menu.

Step 3: Search for the stock that you wish to do a SIP in. Let’s take IEX for instance and click on the Setup SIP. 

Step 4: Enter the number of the shares you want to invest in, select a start date for your monthly SIP, then click on Setup & Add to basket.

Step 5: Now you will see a pop-up with all of the SIPs you want to invest in then click on Setup SIP to proceed with the transaction.

Step 6: Validate your SIP transaction with an OTP confirmation and then click on the Proceed button.

Step 7: Congratulations! Your SIP order is placed successfully.

You can even start your Stock SIP journey via using StockNote App and refer this link to know How to apply for StockSIP via StockNote .

Special Support 

Book a special appointment with our expert team and get support to start your first stock SIP. Choose a time and date that is most convenient to you and receive a callback from our experts at the stipulated time. 

Click on the“Book Appointment Now” button and choose “Understanding Stock SIP – Special Support”. 

Choose your preferred date and time to get a complete demo of the Stock SIP feature. Fill in & confirm your client details on the appointment page and click on “Confirm”.

In case you are facing trouble fixing an appointment, send us an mail at support@samco.in

The post How to place STOCK SIP via Star Backoffice? first appeared on Support | Samco.

As per NSE’s recent circular, it is mandatory for all stock trading and investment platforms to enable Two-Factor Authentication (2FA). The deadline to set up 2FA is September 30, 2022. Thus, along with a password, now all trading accounts access must be secured with an additional authentication factor such as a Time-based OTP or device lock such as fingerprint, face ID, and device PIN/pattern. 

To comply with this regulatory requirement, you will have to mandatorily enable biometric on your device.

If you do not have the biometric-enabled on your mobile device, you will have to follow the below-mentioned process for your android device:

1. Go to Settings in your mobile device.

2. Tap on Security & LockScreen (if you want to set up PIN/Pattern for screen lock) OR go to Biometric (if you wish to set up a Face ID or finger print).

3. Select & set up the biometric of your choice – PIN, Pattern, Fingerprint or Face ID.

Please note that Samco App (Samco Securities) will not store the biometric (fingerprint, face ID, and device PIN/pattern) information. The biometric will be accessed from your mobile device directly.

The post What is Two-Factor Authentication (2FA) for account login? first appeared on Support | Samco.

In this 75th Year of Independence, we are running an offer for samco clients, get Flat 50% off on a Cashplus subscription.

What is CashPlus?

Samco offers a host of leverage products to investors and traders, one of them is CashPlus. CashPlus enhances your equity delivery buying leverage.

CashPlus is Samco’s equity delivery leverage product that allows investors to get up to 4X margin against cash in over 400+ stocks for equity delivery trades. In simple terms, if you have Rs.1,00,000 cash balance in your Samco ledger account, you can buy stocks in delivery for up to Rs. 4,00,000 with a CashPlus subscription.

You can carry forward your Delivery Trades Ad Infinitum as long as your margins remain within the prescribed limits.

How CashPlus work?

CashPlus gives you additional margins to buy shares in delivery against your cash balance

The following table explains how enhanced delivery leverage works with a CashPlus subscription.

You can Explore CashPlus Margin Calculator here

CashPlus Independence Day offer:

Get CashPlus Subscription Now @50% off. 

Offer Duration period: 15th, 16th, and 17th August 2022

Who is eligible for this offer?

• All clients who haven’t subscribed to CashPlus
• All CashPlus Expired subscribers.

Teams and Conditions: 

• Subscribe to CashPlus between 15th August 2022 to 17th August 2022.
• Payments must be made between 15th August 2022 to 17th August 2022.
• The offer won’t be valid for renewal cashplus clients.

To know more about CashPlus you can refer to this blog – Read More

If you are facing any problems while subscribing, feel free to contact us on 022-2222-7777 or 022-4503-0450 or write to us at support@samco.in

The post CashPlus Independence Day Offer first appeared on Support | Samco.

Benefits of GTT orders

There are multiple benefits of placing a GTT order: 

1. Sit back & Relax – No need to track the markets constantly once you’ve placed the order.
2. Easy To Use – Simply decide at what price you want to place an order and add long-term stoploss and target.
3. Lifetime Order Validity – The order is not time-bound. It will remain valid for life, until it gets triggered.
4. Zero Subscription Fees – You can use this feature for free. There are no additional fees/charges for using this order, only the brokerage cost will be applicable.
5. Modify/Cancel Order Anytime – Easily modify/ cancel entry and exit conditions of orders anytime and as many times as you want.
6. Applicable for F&O and Delivery – You can place GTT order to enter or exit F&O as well as overnight equity delivery positions.

Now, let’s take a look at how to place Buy/ Sell GTT orders through the Samco platform. 

How to place a Buy/ Sell GTT order? 

• Log in to the Samco platform and select the stock that you want to set up a GTT order on. 
• On the pop-up, select ‘Create GTT’ button on top which will lead you to GTT order page. 
• On the GTT order page, select ‘Buy’ on the top of the screen.
• Select the product type i.e. NRML for F&O and overnight equity leveraged positions (through CashPlus), CNC for delivery trading by paying 100% margin, and BTPT for delivery trading by paying a fraction of the margin while placing the order and paying the rest in 2 days.
• Enter the Trigger Price i.e. the price at which you want your order to be triggered and sent to the exchange.
• Enter Limit Price i.e. the price at which you want to enter the trade and want your order to be executed. Note: Your order would be placed between Trigger Price and Limit Price.
• Enter the quantity of stocks that you wish to place the order for.
• Agree to the terms and conditions and tap on ‘Create GTT’ button at the bottom of the screen. Your GTT order will be created successfully. 
• You can also modify or cancel your GTT order anytime under the ‘Orders’ tab.

Likewise, you can place a Sell GTT order by switching the tabs on the GTT order window. Select the ‘Sell’ tab and follow the same process to set up a Sell GTT order.

FAQs

1. What is a GTT order?
   GTT or Good-Till-Triggered is a type of order that allows you to place buy/ sell orders with lifetime validity. In this order, you need to give a Trigger Price (which is the price at which the order will be triggered and sent to the exchanges), Limit Price (which is the price at which the order will be executed) and quantity that you wish to purchase/ sell. Note: Your order would be placed between Trigger Price and Limit Price.
   If you wish to set up a buy/ sell position in any stock or F&O contract, you can choose from the multiple product types – NRML (wherein you can create F&O and overnight equity delivery positions), CNC (wherein you can set up for the delivery of shares by paying 100% margins), BTPT (wherein you can set up for delivery of shares by paying a fraction of the margin at the time of purchase and the rest in 2 days).

2. What is the validity of GTT orders?
   GTT orders come with 2 order legs. First, is the Trigger leg, and the second, the Limit Order leg. The trigger leg of GTT order comes with a lifetime validity on Samco. Once the GTT order is triggered on Samco at the pre-set trigger price, your limit order will be activated and will be valid only for that day, i.e. if the limit leg of the GTT order is triggered and not executed by 3.30 PM on the same day, the entire GTT order will be canceled post market hours.

3. What are the charges for GTT orders?
   There are no additional fees/charges for using GTT order, only the brokerage cost will be applicable.

4. What is trigger price and limit price in GTT orders? 
   Trigger price is the price at which your buy/ sell order gets activated. Once the trigger price is met or breached, the order will be placed on the exchange. The limit price is the price selected by you, at which you want the order to be completed.

5. Can you place target orders and stop-loss orders with the help of the GTT feature on Samco?
Yes. You can utilize the trigger and limit legs of the GTT order to place targets (price above the LTP/ Last Traded Price) or stop-loss (price below the LTP/ Last Traded Price).

6. What types of orders can you place using the GTT feature?
You can only place Limit orders using the GTT feature on Samco.

7. In what segments can you use the GTT triggers to place orders?
GTT orders can be used for delivery trading (CNC – Cash N Carry), trading in overnight F&O (stock derivatives, index derivatives, commodity derivatives, currency derivatives), as well as overnight leveraged delivery trading (using CashPlus).

8. What is the margin requirement for placing GTT orders?
There’s no margin requirement at the time of placing the GTT order. However, in order to get your order executed successfully, you must add/maintain the required margin anytime before the GTT order gets triggered.

9. When can you place a GTT order during the day?
You can place GTT orders from Samco web/ app anytime, any day.

10. How many GTT orders can you place on a single stock?
There’s no limit to the number of GTT orders that can be placed on a stock. 

11. Do you need CDSL TPIN authorization before placing GTT orders?
No, you do not need CDSL TPIN authorization while placing GTT orders. CDSL TPIN authorization is required only when selling the equity shareholdings from your demat account.
Note: TPIN authorization is not required for trading F&O positions.

To avoid the hassles of authorizing holdings every day, please download your POA (Power of Attorney) copy from Samco Star and send it on the following address:
1004 – A, 10th Floor, Naman Midtown – A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra, India.

12. Can GTT orders be modified or canceled through the Samco platforms?
Yes. All GTT orders can be modified or canceled anytime through Samco. You can check all your GTT orders under the ‘Order’ section on Samco.

Terms and conditions

Created GTT will expire in any of the following cases: 

• Change in price of that stock due to stop price
• Issue of bonus shares / stock split 
• Stock is put under ban for trade
• Change in ISIN / symbol code 
• Limit order isn’t met on the same day as the order gets triggered

2. In case of system failures, none of the GTT orders will get triggered even if the trigger price is met/breached. 

3. GTT orders for F&O segment shall be valid until the contract expires or until the order gets triggered, whichever comes first.
4. Call and Trade option is not available for placing GTT orders in any segments as of now.
5. It is mandatory for customers to maintain sufficient balance and/or holdings in their trading/demat accounts for their GTT order to get executed successfully. In case of insufficient balance or insufficient holdings the GTT order shall be rejected.
6. GTT feature is allowed only on the Equity cash segment for CNC type orders on NSE & BSE (For us all asset types).
7. All orders placed under GTT feature are placed only as limit orders.

So, without further ado, make the most of GTT orders on the Samco today.

Experience GTT orders on Samco –>

In case you need any assistance, please reach out to us at support@samco.in or connect with us at 022-2222-7777

The post What is a GTT order? its benefits, working & terms and conditions? first appeared on Support | Samco.

We bet you’ve experienced several instances when your positions corrected severely or soared sharply due to an unexpected announcement regarding the company or situations that prevented you from watching your positions for an extended period. 

At times like these, we tend to despair at the missed entries and exits and think of what could’ve been if we had grabbed the opportunity at the right time. 

We obsessively keep hoping for the same momentum, losing countless productive hours, then enter or exit at the wrong time and lose big. 

We understand this very well! This happens to the best of us. Even professional traders and investors have such moments.

Wouldn’t you like to have a solution to fix these troubles? An order that would let you place targets and stop-losses with a lifetime validity? An order that would execute without your intervention every day? 

We have introduced just the tool for you. 

Introducing GTT orders 

The GTT or Good Till Triggered feature allows you to place buy/sell orders with lifetime validity on Samco. Enter and exit your F&O and delivery positions at the pre-set target or stop-loss prices with the help of GTT orders. 

What are the benefits of using a GTT order?

• Sit back & Relax – No need to track the markets constantly once you’ve placed the order.
• Easy To Use – Simply decide at what price you want to place an order and add long-term stoploss and target.
• Lifetime Order Validity – The order is not time-bound. It will remain valid for life, until it gets triggered.
• Zero Subscription Fees – You can use this feature for free. There are no additional fees/charges for using this order, only the brokerage cost will be applicable.
• Modify/Cancel Order Anytime – Easily modify/ cancel entry and exit conditions of orders anytime and as many times as you want.
• Applicable for F&O and Delivery – You can place GTT order to enter or exit F&O as well as overnight equity delivery positions. 

So what are you waiting for? Experience the GTT feature on Samco now!

Experience GTT orders on Samco –>

In case you need any assistance, please reach out to us at support@samco.in or connect with us at 022-2222-7777

The post Introducing GTT orders on Samco first appeared on Support | Samco.

To view your active and expired GTT orders from the Samco app is quite simple.

Let’s take a look at the steps to view Active, Triggered and Expired GTT orders through the Samco app below. 

1. Open your Samco app and login with your client ID, password, and year of birth. 

2. Now, tap on the watchlist menu and then tap on any desired stock to set up a GTT order i.e Good Till Triggered order. 

3. On the pop-up, tap on the ‘Create GTT’ button to set up an entry or exit order for the selected stock.

4. To set up a buy order, tap on the ‘Buy’ button, and to set up a sell order, tap on the ‘Sell’ button, then enter the Trigger Price, Limit Price and the quantity that you wish to purchase or sell. Then agree to the terms and agreement and tap on the ‘Create GTT’ button and your order has been successfully created. 

5. Now, tap on the ‘Order Book’ button. Here, you can find three tabs such as ‘Active’, ‘Triggered’, and ‘Expired’. Click on the respective tab to view the Active and Expired GTT orders. 

So, without further ado, make the most of GTT orders on the Samco today.

Experience GTT orders on Samco –>

In case you need any assistance, please reach out to us at 022-2222-7777 or raise a ticket on www.samco.in/support/ticket

The post How to View Active, Triggered, and Expired GTT Orders on Samco App? first appeared on Support | Samco.

Placing a GTT order from the Samco app is quite simple. Follow the steps given below to place your GTT order through the Samco app. 

1. Open your Samco app and log in with your client ID, password, and year of birth. 

2. Now, tap on the ‘Watchlist’ menu from the navigation bar and then tap on any desired stock to set up a GTT order i.e Good Till Triggered order. 

3. On the pop-up, tap on the ‘Create GTT’ button to set up an entry or exit order for the selected stock.

4. To set up a buy order, tap on the ‘Buy’ button, and to set up a sell order, tap on the ‘Sell’ button.  Now, if you wish to set up a buy position in any stock or F&O contract, you can choose from the multiple product types – NRML (wherein you can create F&O and overnight equity delivery positions), CNC (wherein you can set up for the delivery of shares by paying 100% margins), BTPT (wherein you can set up for delivery of shares by paying a fraction of the margin at the time of purchase and the rest in 2 days), then enter the trigger price (which is the price at which the order will be triggered and sent to the exchanges), limit price (which is the price at which the order will be executed) and quantity that you wish to purchase. 

5. Then agree to the terms and agreement and tap on the ‘CREATE GTT‘ button and your order has been successfully created. 

6. If you wish to change your set GTT order condition, you can tap on the ‘MODIFY ORDER’ button and change the prices and quantity as you wish. You can also cancel the order after it’s created.

7. To preview all your GTT orders at once, you can tap on ‘Order Book’ button and see the list of all the GTT orders set up. Tap on any one of the active GTT orders to see the conditions of the order. You can also modify and cancel the active GTT orders from this window.

8. Once your GTT orders are expired, you can see the details in the ‘Expired’ tab beside the ‘Active’ tab. 

So, without further ado, make the most of GTT orders on the Samco today.

Experience GTT orders on Samco –>

In case you need any assistance, please reach out to us at 022-2222-7777 or raise a ticket on www.samco.in/support/ticket

The post How to Place a GTT Order on the Samco App? first appeared on Support | Samco.

And if your trading account has been inactive for more than a year, as per the instructions by the exchange, we are required to freeze your trading account until you submit your KYC details again.

Follow the steps below to reactivate your Samco trading and demat account:

Step 1: First, you need to log into Samco Star backoffice with your client ID and password. There, you will find the option to verify your current details with Samco. 

You’ll be prompted to update your annual income. Select the valid income range and then proceed to the next step. 

Step 2: Moving forward, you need to upload the requisite mandatory documents in order to begin the RE-KYC process. 

You’ll need to keep the following documents handy in jpeg, png or jpg format. 

1. Address Proof (Aadhaar Card/ Ration Card/ Voter’s ID)
2. Photograph
3. PAN
4. Signature
5. Bank Proof (If banking details are updated)

Starting off with the Address proof, kindly select the address proof that you wish to submit. Eg. Aadhaar card; you are required to upload the images of the front and the back of your Aadhaar card. 

Next, upload your latest photograph, an image of your PAN, and even your signature. 

Note: For signature, please make sure to sign it on a black piece of paper.

Step 3: On uploading all the necessary documents, click on the Submit button. In the next stage, you will receive a unique verification code for your In-person verification (IPV) process. 

There are two ways to start your IPV process. 

1. IPV with photo
2. IPV with video

IPV with photo:

You must write the 4-digit code (which is visible on your screen) on a white, blank sheet of paper and take a selfie with the photograph (Refer to the sample IPV below). Then, save the photo and proceed to the next stage. You could even retake the photo and reupload it, if you’re not satisfied with the current one. 

IPV with video: 

Once you see your unique verification code on your screen, click on the REC button. This will open your phone’s camera settings; allow your phone to capture the video and sound. 

Then proceed by saying out loud the following line “My code is ….”, with the camera facing you. 

Next, save the video and upload it. In case you wish to resubmit the video, you can re-record and upload it again.

Step 4: Once the IPV is done, proceed to the Aadhaar verification stage. Here, you need to enter your Aadhaar card number and click on the Submit button.

Note: In case your mobile number is not linked to your Aadhaar card, continue with the Physical mode, wherein you’ll be required to download the PDF of your application and physically sign it and then send it to our office.

Send the physical documents on the following address:

1004 – A, 10th Floor, Naman Midtown – A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013, Maharashtra, India.

If you choose to proceed with the digital verification, you’ll be redirected to the Aadhaar gateway. Click on the I Agree button and proceed to the next stage.

Now, accept the terms and conditions and enter the Aadhaar card number. You’ll receive an OTP on your registered mobile number. Enter the OTP and click on Submit.

After following and completing all the above-mentioned steps, you’ll see the modification status. 

Note:  It takes 24-48 business hours for our KYC team to complete your RE-KYC procedure.

In case you have any questions, feedback, or need support, you can contact us at +91 – 22 – 2222 7777 / +91-22-6169 900 or raise a ticket at our Support Help Desk.

The post How to do Re- KYC of your Samco Trading & Demat Account first appeared on Support | Samco.