ICICI Prudential Life Insurance Company rose 1.36% to Rs 496 at 14:47 IST on BSE after the company expressed interest in taking over Sahara group's insurance business.
The announcement was made after market hours yesterday, 4 July 2017.Meanwhile, the S&P BSE Sensex was up 22 points, or 0.07% to 31,231.79.
On the BSE, 1.90 lakh shares were traded in the counter so far, compared with average daily volumes of 1.19 lakh shares in the past one quarter. The stock had hit a high of Rs 501.25 and a low of Rs 490.55 so far during the day. The stock hit a record high of Rs 507.90 on 4 July 2017. The stock hit a record low of Rs 273.65 on 9 November 2016.
The stock had outperformed the market over the past one month till 4 July 2017, rising 20.44% compared with 0.32% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.08% as against Sensex's 4.12% rise.
The large-cap company has equity capital of Rs 1435.36 crore. Face value per share is Rs 10.
ICICI Prudential Life Insurance Company, India's only listed life insurance company, has confirmed its interest in buying the beleaguered Sahara India Life Insurance Company's insurance business. The company confirmed that it has expressed its interest to evaluate taking over policyholders' liabilities and assets of Sahara Life. The last reported policyholders' liabilities of Sahara Life is about Rs 900 crore, which is less than 1% of the company's balance sheet size.
On consolidated basis, net profit of ICICI Prudential Life Insurance Company declined 43.88% to Rs 238.40 crore on 122.32% rise in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016.
ICICI Prudential Life Insurance Company is a private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company offers a range of life insurance, health insurance and pension products and services.
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