ICICI Prudential Life Insurance has attracted positive attention from multiple brokerages following its Q2 results, with both HSBC and Jefferies maintaining buy calls on the stock.
HSBC has set a target price of ₹850, pointing to a 16.3% upside from the current market price of ₹730.90. HSBC cited the company’s stronger-than-expected Q2 Value of New Business (VNB) and expects a 25% YoY growth in H2 FY25 as the company balances premium growth with margin expansion.
Jefferies has also kept its buy rating, with a higher target of ₹860, indicating a 17.7% upside. Although the Q2 VNB was slightly below expectations, Jefferies remains optimistic, highlighting the 21% premium growth and expecting VNB growth to improve from Q3 onwards.
With two major brokerages backing ICICI Pru Life, investors might consider the stock for potential gains of up to 17.7%.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice.
