Shares of HDFC Life Insurance Company gained over 2 percent intraday on April 28 after the company reported weak growth in premium and decline in solvency ratio in the quarter ended March 2020.

The stock has rallied 45 percent in a little over a month and was trading at Rs 489.50, up 0.97 percent on the BSE at 1348 hours IST.

The private life insurer posted a 14.5 percent year-on-year decline in consolidated net profit for Q4FY20 at Rs 3.11 billion, impacted by a drop in net investment income and a rise in provisions, though both annualised premium equivalent (APE) and the value of new business (VNB) saw double-digit growth in FY20.