ICICI Prudential Life Insurance Company shares gained 1.8 percent in morning on Tuesday after global brokerage house Morgan Stanley maintained overweight rating on the stock with a price target at Rs 425, implying a 33 percent potential upside.
The life insurance company reported premium growth of 3 percent for December.
The global brokerage house expects muted premium compounded annual growth rate of 6 percent over FY18-21, but a higher VNB (value of new business) CAGR of 20 percent.
Meanwhile, the company is scheduled to announce its earnings for the quarter ended December 2018 on January 22, 2019.
At 10:18 hours IST, the stock was quoting at Rs 322.55, up Rs 2.80, or 0.88 percent on the BSE.
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