Buy ICICI Lombard General Insurance Company, target price Rs 1325: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1325. The current market price of ICICI Lombard General Insurance Company is Rs 1241.

Time period given by analyst is Intra Day when ICICI Lombard General Insurance Company Ltd. price can reach defined target.

ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 60980.64 Crore) operating in Financial Services sector.


ICICI Lombard General Insurance Company Ltd. key Products/Revenue Segments include Miscellaneous Insurance, Other Operating Revenue, Fire Insurance and Marine Insurance for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 4149.38 Crore, down -13.55 % from last quarter Total Income of Rs 4799.75 Crore and up 21.54 % from last year same quarter Total Income of Rs 3414.09 Crore. Company reported net profit after tax of Rs 349.03 Crore in latest quarter.

Investment Rationale
Formed a Dragonfly Doji pattern on the weekly chart for the last week & entered recovery mode.

Promoter/FII Holdings
Promoters held 48.03 per cent stake in the company as of 30-Jun-2022, while FIIs owned 26.43 per cent, DIIs 13.94 per cent.