March 29, 2019 / 5:18 AM / 2 months ago

BUZZ-India's SBI Life Insurance slips over 5 pct on report of BNP Paribas stake sale

** Shares of India’s SBI Life Insurance Ltd fall as much as 5.6 percent to 581.6 rupees, their lowest since March 1

** BNP Paribas Cardiff is selling SBI Life Insurance shares worth 17 bln rupees ($245.88 mln), IFR reported on Thursday

** Earlier this month, U.S. private-equity firm Carlyle Group bought a 9 percent stake in SBI Life Insurance Ltd from France’s largest-listed bank BNP Paribas SA .

** About 4.3 mln shares traded, nearly 6 times their 30- day avg of about 726,700 shares

** 20 of 21 analysts covering the stock rate it “buy” or higher rating, while one rate it at “sell”; median PT is 755 rupees - Refinitiv Eikon data

** Up to Thursday’s close, stock had gained 3 pct so far this year ($1 = 69.1400 Indian rupees)

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