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ICICI Prudential Life rises over 6% in two days

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Capital Market 

ICICI Prudential Life Insurance Company gained 2.61% to Rs 417.40, rising for second straight session.

ICICI Prudential Life Insurance is up 6.5% in two trading days from its previous closing low of Rs 391.70 on 19 June 2020.

Meanwhile, the Government of Singapore bought 1,64,30,820 equity shares, representing 1.14% equity, of ICICI Prudential Life Insurance Company at Rs 391.60 per share via bulk deal on NSE on Monday (22 June).

ICICI Bank sold 2,15,00,000 equity shares, or 1.50% equity, of ICICI Prudential Life Insurance Company at Rs 391.60 per share via bulk deal on NSE on Monday (22 June). Following the share sale, ICICI Bank's shareholding in the insurance company stand reduced to 51.4% from 52.87% on 31 March 2020.

ICICI Prudential Life's consolidated net profit fell 31.52% to Rs 178.73 crore in Q4 March 2020 as against Rs 261.02 crore in Q4 March 2019. However, company's net premium earned rose 4.16% to Rs 10,475.12 crore in Q4 March 2020 from Rs 10,056.32 crore in Q4 March 2019.

ICICI Prudential Life is promoted by ICICI Bank and Prudential Corporation Holdings, headquartered in United Kingdom. The company offers and array of products in the Protection and Savings category which match the different life stage requirements of customers, enabling them to provide a financial safety net to their families as well as achieve their long term financial goals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, June 23 2020. 11:05 IST