The stock has corrected significantly over last 6 months (return: -23.4%) and is a value-buy at the current valuation, given its growth potential. We revise our FY21-22E estimates and now value the stock at 2.1x FY22E Embedded Value (EV), with a target price of Rs. 473. Retain BUY. Delay in premiums, ALM mismatch Amidst the ongoing Corona pandemic, the Insurance Regulatory and Development Authority of India (IRDA), recently provided relief to existing life policy holders with an additional grace period of 30 days for premium payments. Life Insurance...