Buy ICICI Prudential Life; target of Rs 836: YES Securities
YES Securities is bullish on ICICI Prudential Life has recommended buy rating on the stock with a target price of Rs 836 in its research report date October 19, 2021.
October 20, 2021 / 06:30 PM IST
YES Securities' research report on ICICI Prudential Life
The sluggishness in retail protection continued on account of changes in guidelines and continued reluctance of potential customers to carry out medical testing. The share of annuity products in new business received premium has risen to 20.1% in 1HFY22 compared with 15.2% in 1HFY21 due to a 95% YoY rise. IPRU continues to invest in all channels and is seeing good growth in agency, direct channel including proprietary sales and online channel.
We maintain ‘Buy’ rating on IPRU with a revised price target of Rs 836.
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