Share price of ICICI Pru Life falls as Nifty weakens

Share price of ICICI Pru Life falls as Nifty weakens
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Synopsis

A total of 57,843 shares changed hands on the counter till 01:38PM (IST).

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In effect, financial markets are betting that there is some reasonable approximation of normal on some foreseeable horizon.
Shares of ICICI Prudential Life Insurance Company Ltd. slipped 0.94 per cent to Rs 582.1 in Wednesday's trade as of 01:38PM (IST). The stock hit a high price of Rs 590.65 and low of Rs 579.2 during the session.

The return on equity (ROE) for the stock stood at 14.79 per cent. Traded volume on the counter stood at 01:38PM shares and turnover at Rs 3.37 crore around that time. The stock of ICICI Prudential Life Insurance Company Ltd. quoted a 52-week high price of Rs 596.0 and 52-week low prices of Rs 386.7, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.14.

Promotor/FII Holding
Promoters held 51.37 per cent stake in the company as of 31-Mar-2021, while foreign investors held 16.51 per cent and domestic institutional investors had 3.42 per cent.

Key Financials
The company reported consolidated sales of Rs 735.33 crore for the quarter ended 31-Mar-2021, up 17.88 per cent from previous quarter's Rs 623.78 crore and up 25.55 per cent from the year-ago quarter's Rs 987.71 crore. Net profit after tax for the latest quarter stood at Rs 62.51 crore, down 65.03 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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