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ICICI Prudential Life rises 2% as Citi maintains buy with target Rs 415

7 December, 2018 6:35 AM
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ICICI Prudential Life rises 2% as Citi maintains buy with target Rs 415

Share price of ICICI Prudential Life Insurance Company rose 2 percent intraday Friday as research house Citi has maintained buy call on the stock with a target of Rs 415 per share.

It has touched an intraday high of Rs 314.25 and an intraday low of Rs 308.55.

According to Citi, new strategy should help company in winning back confidence from HNIs.

Morgan Stanley has maintained overweight rating on stock with target of Rs 425 per share.

The reported November premium data is on the basis of overall APE (flat YoY) and individual retail-weighted received premium (RWRP, down 24% YoY), said Morgan Stanley.

The sharp difference reflects increased focus on monthly pay products, it added.

At 11:55 hrs ICICI Prudential Life Insurance Company was quoting at Rs 312.90, up Rs 4.45, or 1.44 percent.

The share touched its 52-week high Rs 462 and 52-week low Rs 302 on 11 May, 2018 and 08 October, 2018, respectively.

Currently, it is trading 32.16 percent below its 52-week high and 3.77 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 9.58 per share. (Sep, 2018). The stock's price-to-earnings (P/E) ratio was 32.71. The latest book value of the company is Rs 47.80 per share.

Also read: Volatile market ends 1% higher, but 8 stocks gave 8-29% return last week


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