Momentumisers: Key factors behind ICICI Prudential’s surge
ICICI Prudential Life Insurance Company has outperformed the Nifty in the last one week. The stock gained about 6 percent in the last one week compared to a decline of 2.2 percent in Nifty. It is up about more than 7.25 percent in the last one month while Nifty is down about 2.7 percent in the same period.
ICICI Prudential Life Insurance Company has outperformed the Nifty in the last one week. The stock gained about 6 percent in the last one week compared to a decline of 2.2 percent in Nifty. It is up about more than 7.25 percent in the last one month while Nifty is down about 2.7 percent in the same period.
The volume data is interesting as over the last two weeks, the volume has moved from Rs 66 crore on April 7, 2021, to about Rs 1,132 crore as of April 20.
Looking at the key technical levels, the stock is currently priced at Rs 478 per share. It is just above the 100-day moving average (DMA) which is at Rs 476.4 per share.
On the fundamentals side, the company has guided that it will grow the value of the new business at a Compound Annual Growth Rate (CAGR) of 28 percent over the next two fiscals. Therefore, brokerages like CLSA and Nomura have upgraded their recommendations.
Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.
(Edited by : Niral Sharma)
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