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Buy ICICI Prudential Life Insurance; Target Of Rs 532: Sharekhan

Sharekhan is bullish on ICICI Prudential Life Insurance has recommended buy rating on the stock with a target price of Rs 532 in its research report dated October 27, 2020.

Nov 2, 2020 / 03:03 PM IST
 
 
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Sharekhan's research repor on ICICI Prudential Life Insurance


ICICI Prudential Life Insurance (IPRU) posted strong results, indicating an encouraging recovery in topline, while VNB margins and APE growth improved q-o-q. Annualized premium equivalent (APE), at Rs. 1,465 crore grew by 78% q-o-q; VNB margins improved to 27.4% (from 24.4% for Q1FY2021), hinting at an improving outlook. We find the insurance space attractive, given a long runway for growth and believe that players with strong balance sheets and business metrics would be able to tide over the crisis.


Outlook


We recommend a Buy rating on the stock with a price target of Rs. 532.


For all recommendations report, click here


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first published: Nov 2, 2020 03:03 pm

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