ICICI Prudential drops from record high

ICICI Prudential Life Insurance Company lost 1.84% to Rs 411 at 11:02 IST on BSE, with the stock dropping from record high as the company reported tepid growth in bottom line in Q4 March 2017 over corresponding previous quarter.

Meanwhile, the S&P BSE Sensex was up 141.86 points or 0.47% at 30,085.10.

On the BSE, 82,000 shares were traded on the counter so far as against the average daily volumes of 1.56 lakh shares in the past one quarter. The stock had hit a high of Rs 423.35 so far during the day, which is a record high. The stock hit a low of Rs 409.05 so far during the day.

The stock had hit a record low of Rs 273.65 on 9 November 2016. It had outperformed the market over the past one month till 25 April 2017, surging 12.04% compared with the Sensex's 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 18.38% as against the Sensex's 8.07% rise.

The large-cap company has equity capital of Rs 1435.35 crore. Face value per share is Rs 10.

On consolidated basis, ICICI Prudential Life Insurance Company's net profit rose 1.31% to Rs 408.24 crore on 122.31% growth in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 25 April 2017.

ICICI Prudential Life Insurance Company's board recommended a final dividend of Rs 3.50 per share for the year ended March 2017.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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