Buy ICICI Prudential Life Insurance Company, target price Rs 515: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on ICICI Prudential Life Insurance Company with a target price of Rs 515. The current market price of ICICI Prudential Life Insurance Company is Rs 481.9 Sharekhan by BNP Paribas recommended to keep stop loss at Rs 470.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 69689.21 Crore) operating in Financial Services sector.

ICICI Prudential Life Insurance Company key Products/Revenue Segments include Income From Financial Services, Other Operating Revenue for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 23111.85 Crore, up 47.14 % from last quarter Total Income of Rs 15707.72 Crore and down -1.49 % from last year same quarter Total Income of Rs 23461.85 Crore. Company has reported net profit after tax of Rs 200.12 Crore in latest quarter.

The company’s top management includes Mr.R K Nair, Mr.Dileep Choksi, Ms.Vibha Paul Rishi, Mr.M S Ramachandran, Mr.N S Kannan, Mr.Anup Bagchi, Mr.Sandeep Batra, Mr.Dilip Karnik, Mr.Benjamin James Bulmer. Company has Walker Chandiok & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 144 Crore shares outstanding.

Investment Rationale
Broken out from an Inverted Head & Shoulders pattern on the daily chart.

Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.13 per cent, DIIs 5.08 per cent.