ICICI Prudential rises almost 2%

ICICI Prudential Life Insurance rose almost 2% to Rs.325.45. The company’s 52-week high and low stands at Rs.462 and Rs.302 respectively.

The stock price is reacting to a report put out by Morgan Stanley. It maintained its rating on the stock at Overweight and price target was at Rs.425, a rise of 33%.

Morgan Stanley expects a muted compounded annual growth for premium at 6% over FY18-21  but estimates higher Value of New Business CAGR of 20%.