Moneycontrol PRO

Buy ICICI Prudential Life Insurance Company; target of Rs 450: Anand Rathi

Anand Rathi is bullish on ICICI Prudential Life Insurance Company has recommended buy rating on the stock with a target price of Rs 450 in its research report dated May 13, 2020.

May 16, 2020 / 03:38 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Anand Rathi 's research report on ICICI Prudential Life Insurance Company


ICICI Prudential Life Insurance Company Ltd. (IPRU) recorded 4.8% year-over-year (y/y) increase in gross premium to Rs.106.47 billion in Q4FY20, primarily due to growth in new business premium. Renewal premium decreased 4.1%% y/y. Net premium income (net of reinsurance) increased 4.2% y/y Rs.104.75 billion in the quarter. The quarter witnessed negative income from investment of Rs.188.13 billion as against income of Rs.58.39 billion in Q4FY19. Profit after tax declined 31.5% y/y to Rs.1.78 billion.


Outlook


We continue to remain positive on the company and maintain our BUY rating with a revised target price of Rs.450 per share.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: May 16, 2020 03:38 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark