Buy ICICI Lombard General Insurance Company, target price Rs 2200: Motilal Oswal

Motilal Oswal has buy call on ICICI Lombard General Insurance Company with a target price of Rs 2200. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1900.75.

ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 92794.79 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-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 5604.89 Crore, up 3.88 % from last quarter Total Income of Rs 5395.46 Crore and up 18.66 % from last year same quarter Total Income of Rs 4723.62 Crore. Company reported net profit after tax of Rs 580.37 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.81 per cent stake in the company as of 30-Jun-2024, while FIIs owned 23.94 per cent, DIIs 17.15 per cent.