Q4 Net Profit Growth of 122%, Strong Outlook Prompts Brokerages to Issue Buy Ratings; Know the Top Brokerage Firms' Target Prices
Shares of ICICI Prudential Life Insurance witnessed a surge of up to 6% on Wednesday. The company announced stellar results for the March quarter (Q4 FY25), boosting investor confidence. The share price reached a high of ₹602 on the BSE during the day.
Share Down 29%, Yet Showing Momentum
ICICI Prudential's share is currently trading approximately 29% below its 52-week high of ₹795. Its 52-week low is ₹516. However, the share has risen 9.30% in the last month. The current market cap stands at ₹84,641 crore.
Q4 Results Highlights: 122% Net Profit Jump
The company's net profit for the January-March quarter was ₹386.29 crore, compared to ₹173.8 crore in the previous year. Net premium income increased by 10.7% to ₹16,369.17 crore. However, a 3.12% decline was recorded in APE (Annualized Premium Equivalent).
Brokerage Recommendations
Centrum Broking maintained a Buy rating on ICICI Prudential with a target price of ₹680, implying an upside of approximately 20%. Their previous target was ₹775.
Motilal Oswal also issued a Buy rating citing a b growth outlook and setting a target price of ₹680.
Antique Broking revised its target price downwards from ₹690 to ₹650 but maintained a Buy rating.
Nuvama upgraded its rating from Hold to Buy and revised its target price from ₹720 to ₹690.
Stock Performance Overview
1 Month: +9.3%
3 Months: -10%
6 Months: -21%
1 Year: -29% (from High)
(Disclaimer: This is not investment advice. Investing in the stock market is subject to risk. Consult your financial advisor before investing.)
