ICICI Pru share price: Buy ICICI Prudential, target price Rs 675: Motilal Oswal
Time period given by analyst is one year when ICICI Prudential Life Insurance Company Ltd. price can reach defined target.
ICICI Prudential Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 84291.69 Crore) operating in Financial Services sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 735.33 Crore, up 17.88 % from last quarter Total Income of Rs 623.78 Crore and down -25.55 % from last year same quarter Total Income of Rs 987.71 Crore. Company reported net profit after tax of Rs 62.51 Crore in latest quarter.
Investment Rationale
It currently holds additional provisions of INR3.3b towards potential COVIDrelated claims, which will likely need to be stepped up given the sharp rise in the mortality rate. The brokerage estimates IPRULIFE to deliver ~31%/29% CAGR in new business APE/VNB growth over FY21-23E.
Promoter/FII Holdings
Promoters held 73.5 per cent stake in the company as of March31, 2021, while FIIs held 16.5 per cent, DIIs 4.3 per cent and public and others 5.7 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
Source link
