ICICI Prudential slips on profit taking

ICICI Prudential Life Insurance Company fell 1.41% to Rs 392 at 15:27 IST on BSE after gaining 7.17% in the preceding four trading sessions to settle at Rs 397.60 yesterday, 5 April 2017, from its close of Rs 371 on 29 March 2017.

Meanwhile, the S&P BSE Sensex was down 46.90 points or 0.16% at 29,927.34

On the BSE, 76,000 shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one quarter. The stock hit a high of Rs 400.80 in intraday trade so far, which is a record high for the counter. The stock had hit a a low of Rs 391 so far during the day. The stock hit a record low of Rs 273.65 on 9 November 2016.

The stock had outperformed the market over the past 30 days till 5 April 2017, gaining 7.84% compared with the 3.36% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 21.7% as against Sensex's 11.52% gain.

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

ICICI Prudential Life Insurance Company's net profit fell 24.28% to Rs 292.64 crore on 16.99% fall in total income to Rs 5047.42 crore in Q3 December 2016 over Q3 December 2015.

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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