ICICI Prudential shares halt 5-day losing streak ahead of results today; here is what you can expect

ICICI Prudential Life Insurance Company (ICICIPRULI) Q4 FY24 Results Today: ICICI Prudential Life Insurance (ICICIPRULI) shares rose on Tuesday, snapping a five-session losing streak, as investors awaited the private sector life insurance firm's financial results for the quarter as well as the year ended March 31 due later in the day. The stock of ICICI Prudential gained by as much as Rs 8.8, or 1.5 per cent, to Rs 588.6 apiece on BSE.

At 12:50 pm, ICICI Prudential shares held on firmly to the green, up 1.2 per cent for the day at Rs 586.5 apiece.

According to Zee Business research, ICICI Prudential Life Insurance is likely to register a standalone net profit of Rs 290 crore for the January-March period, which translates into a year-on-year increase of 23.4 per cent. The analysts estimate the life insurer's fourth-quarter new premium income at Rs 13,311 crore, up 5.4 per cent compared with the year-ago period. 

The insurer's annual premium equivalent (APE)—a key metric used to compare the revenue potential of different types of policies—for the January-March period is expected to grow 11.5 per cent to Rs 3,680 crore, according to the research. 

Zee Business analysts expect the life insurance company's value of new business (VNB) for the final quarter of FY24 to decline 9.0 per cent to Rs 960 crore, and its VNB margin—a key measure of profitability for insurance businesses—to contract by 600 basis points (bps) to 26 per cent.

They estimate ICICI Prudential's assets under management (AUM) to grow 24.7 per cent to Rs 3.13 lakh crore. 

ICICI Prudential's solvency ratio, a key metric that determines a business's capability to meet its long-term financial obligations, to come in at 200 per cent in the March quarter, as against 208.9 per cent a year ago.

A higher reading of the solvency ratio is a positive indicator of an insurance business's strength and reliability, and vice versa. Read more on what to expect in ICICI Prudential Life Q4 earnings report

ICICI Prudential Life Insurance shares: Past performance 

As of April 22, ICICI Prudential Life Insurance shares have grown 32.5 per cent, outperforming a 26 per cent rally in the headline Nifty50 index.

The stock finished the March quarter 13.9 per cent stronger, outperforming a 2.7 per cent rise in the headline index. 

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.