ICICI Prudential Life lists at a discount
DSIJ Intelligence / 29 Sep 2016
ICICI Prudential Life has listed itself at a discount, at Rs 329, down by 1.5 per cent from the its band price of Rs 334 per share. As at 10.05 am, 10.06 lakh shares were trading in 5 blocks in NSE and BSE at a price of Rs 328 to 332 per share.
ICICI Prudential Life has listed itself at a discount, at Rs 329, down by 1.5 per cent from the its band price of Rs 334 per share. As at 10.05 am, 10.06 lakh shares were trading in 5 blocks in NSE and BSE at a price of Rs 328 to 332 per share.
The company enjoys strong support from ICICI Bank. The company has been able to generate high earnings of over 90 per cent in last three years due to a robust and sustainable business model and multi-channel distribution network.
The company has posted some strong financial numbers in last couple of years. PAT of the company has grown at CAGR of 5 per cent over FY12-16. In FY16, the company reported revenue of Rs 1812 crore, which has increased by 8 per cent on a YoY basis. The company has healthy profit margins of above 90 per cent since FY14. Premium income of the company has risen by 25.3 per cent to Rs 18998.7 crore in FY16 on a YoY basis.On the other hand, shares of ICICI Bank as at 10.13 am are trading at Rs 257.75, down by 1.17 per cent.
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