Buy Icici Lombard Gic, target price Rs 1960: IIFL Securities
IIFL Securities has issued a 'buy' recommendation for ICICI Lombard GIC at the current market price of Rs 1910.75 on January 16th. The target price set for the stock is Rs 1960. This recommendation is based on the company's strong financial performance, its dominant position in the general insurance market, and its growth potential. ICICI Lombard GIC has consistently outperformed the industry average in terms of growth and profitability, and it is well-positioned to benefit from the growing demand for insurance products in India.
About Icici Lombard Gic:
ICICI Lombard General Insurance Company Limited (ICICI Lombard) is a private general insurance company in India, headquartered in Mumbai. It is a subsidiary of ICICI Bank, India's largest private sector bank. ICICI Lombard offers a wide range of insurance products and services, including motor, health, home, travel, and commercial insurance. The company has a strong focus on technology and innovation, and has been recognized for its customer-centric approach. As of 2023, ICICI Lombard had a gross written premium of over ₹15,000 crores and a market share of over 8%.
52 Week Price Trend:
ICICI Lombard GIC's current market price (CMP) of Rs 1910.75 indicates a significant decline from its 52-week high of Rs 2301.9, suggesting a potential buying opportunity. However, investors should be aware that it has also experienced a low of Rs 1381.1 within the same period. This wide range highlights the volatility associated with the stock and the need for careful consideration before investing.
Stratzy's MOST Analysis:
ICICIGI has been rated AA by Stratzy's MOST framework, indicating a medium fundamental risk level. This rating is based on an assessment of the company's Management, Outlook, Safety, and Trend. The AA rating suggests that ICICIGI has a strong management team, a positive outlook for the future, a robust financial position, and a favorable industry trend. Overall, the company is considered to have a moderate level of fundamental risk, with investors advised to exercise caution when making investment decisions.
Company's Fundamentals:
ICICI Lombard GIC (NSE: ICICIGI) is a leading general insurance company in India. As of March 31, 2023, the company's stock was trading at a price-to-earnings (PE) ratio of 40.75, a price-to-book (PB) ratio of 6.65, and offering a dividend yield of 0.33%. The PE ratio measures the company's stock price relative to its earnings per share, while the PB ratio compares the stock price to the company's book value per share. The dividend yield indicates the annual return an investor can expect from dividends as a percentage of the current stock price. These metrics provide insights into the company's valuation and income-generating potential.
Fundamental and Technical information provided in this blog were last updated on 16 Jan, 2025
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