Buy ICICI Prudential Life Insurance Company, target price Rs 505 : Yes Securities

Yes Securities has buy call on ICICI Prudential Life Insurance Company with a target price of Rs 505. The current market price of ICICI Prudential Life Insurance Company is Rs 448.25 Yes Securities recommended to keep stop loss at Rs 425.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64715.51 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 BSR & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 144 Crore shares outstanding.

Investment Rationale
It has defended previous low and has been consolidating around three-digit Gann number of Rs 441.

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.