The trading volumes on the counter more than doubled with a combined 4.2 million shares changed hands till 13:05 PM; as compared to 1.7 million shares were traded daily in past two weeks on the BSE and NSE.
On September 29, 2017, the stock closed at an over four-month low of Rs 382, had underperformed the market by falling 19% in past two months. On comparison, the S&P BSE Sensex was up 1% during the same period. The stock hit a 52-week high of Rs 508 on July 4, in intra-day trade.
Analysts at IIFL Institutional Research initiate coverage on ICICI Prudential Life Insurance with a buy rating and 12 month target price of Rs 480.
“The company has established a leading market position among private sector life insurers, aided by robust distribution architecture and cost competitiveness. ICICI Prudential Life Insurance is well positioned to capture growth opportunities arising from the buoyant equity markets, given its predominant positioning as seller of unit-linked products (ULIPs),” the brokerage firm said in a recent report.
A well-established franchise, upbeat growth outlook, improving profitability metrics, and a strong capital position place ICICI Prudential Life Insurance favourably among private sector life insurers, added report.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in