India's ICICI Prudential jumps after profit rise; slowdown fears prompt TP cuts

Icici Prudential Life Insurance

16/04/2025 05:41

** Shares of India's ICICI Prudential Life Insurance Company ICIR.NS jump 5.4% to 597 rupees
** Co reported a higher quarterly profit on strong group insurance demand
** Brokerage Nuvama says results "in line"; upgrades ICIR to "buy" from "hold" on ~5% stock drop since the start of April
** Antique says valuations factoring concerns of lower growth and is attractive; maintains "buy" but trims TP by 6% to 650 rupees
** Nomura cuts TP from 715 rupees to 650 rupees, maintains neutral and says "no positive catalyst in sight"
** Of 32 analysts covering the stock, at least 16 cut TPs after results while at least six downgraded ICIR - LSEG data
** Stock has fallen 9%, YTD

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com))