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    ICICI Pru Life shares drop 0.25% as Sensex falls

    Synopsis

    The stock quoted a 52-week high of Rs 724.5 and a 52-week low of Rs 399.4.

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    Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
    Shares of ICICI Prudential Life Insurance Company Ltd. traded 0.25 per cent lower in Wednesday's session at 01:00PM (IST). The stock opened at Rs 634.9 and has touched an intraday high and low of Rs 637.35 and Rs 626.3, respectively, during the session so far.

    The stock quoted a 52-week high of Rs 724.5 and a 52-week low of 399.4. About 22,708 shares changed hands on the counter so far.

    Benchmark Nifty50 was down 21.45 points at 17867.50, while the BSE Sensex traded 98.54 points lower at 59930.52 at the time of writing of this report.

    In the Nifty pack, 22 stocks traded the day in the green, while 28 were in the red.


    Key Financials
    For the quarter ended 30-Sep-2021, the company reported consolidated sales of Rs 772.65 crore, up 11.82 per cent from the previous quarter's Rs 690.95 crore and up 23.94 per cent from the year-ago quarter. The company reported net profit of Rs 445.62 crore for the latest quarter.

    Promoter Holdings
    Promoters held 73.42 per cent stake in the company as of 30-Sep-2021, while FIIs held 17.17 per cent and MFs 3.5 per cent.

    Technicals
    On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 572.91 on November 03, while the 50-DMA was at Rs 665.11. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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