India's ICICI Prudential Life extends gains after 20% jump in Q3 profit

Icici Prudential Life Insurance

14/01/2026 03:55

** Shares of ICICI Prudential Life Insurance ICIR.NS extend gains 2% to 695 rupees

** Insurer reports 20% rise in Q3 profit to 3.9 billion rupees ($43.23 million), helped by higher investment income

** Jefferies raises VNB estimates by 3-4% over FY26-28 and hikes PT to 820 rupees, implying 20% upside; keeps "buy" rating

** Says while GST was a drag, ICIR could offset it with better product mix, positive yield curve and cost controls

** Ambit says 15% y/y growth in non-linked vs 8% in linked contributed towards product mix improvement and stable VNB margins q/q

** Nomura says margin outlook for Q4 remains favorable as distributor negotiations are expected to close in coming months, helping faster APE growth and translating into even higher VNB growth

** On avg 33 analysts have "buy" rating on stock, median PT is 737.50 rupees - data compiled by LSEG

** YTD, ICIR up 4% vs 2025's 2% rise

($1 = 90.2160 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))