CLSA maintains buy call on ICICI Prudential Life Insurance, sees 31% upside

CLSA has maintained a buy call on ICICI Prudential Life Insurance Company with a target price of Rs 560 per share as the company has been focussing on growth with better profitability.

Compared with Thursday's closing price of Rs 426.55, this target price indicates a potential upside of 31 percent.

"ICICI Prudential is among our top picks in the financial sector," it said.

The research house sees healthy growth in premiums at 24 percent CAGR for FY17-20. Cut in dividend payout will improve embedded value growth, it feels.