Buy ICICI Lombard General Insurance Company, target price Rs 1650: Motilal Oswal

Motilal Oswal Financial Services has buy call on ICICI Lombard General Insurance Company Ltd. with a target price of Rs 1650.0. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1433.0 .
ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 68295.26 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-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Standalone Total Income of Rs 5211.98 Crore, down -1.12 % from last quarter Total Income of Rs 5271.06 Crore and up 14.04 % from last year same quarter Total Income of Rs 4570.11 Crore. Company reported net profit after tax of Rs 431.46 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 48.0 per cent stake in the company as of 30-Sep-2023, while FIIs owned 22.37 per cent, DIIs 18.41 per cent.