Shares of ICICI Pru Life rise as Nifty gains

Shares of ICICI Pru Life rise as Nifty gains
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 610.23.

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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. gained 2.14 per cent to Rs 513.0 in Tuesday's trade as of 12:12PM (IST). It hit a high of Rs 514.25 and low of Rs 500.5 during the session.

The stock quoted a 52-week high price of Rs 724.5 and a low of Rs 411.0. The return on equity for the stock stood at 7.9 per cent. About 42,557 shares have changed hands on the counter so far.

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

The scrip has been an underperformer, up 5.53 per cent in the past one year in comparison with a 11.04 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 411.0 on February 15, while the 50-DMA was at Rs 561.96. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 51.32 per cent stake in ICICI Prudential Life Insurance Company Ltd. as of 31-Dec-2021. Mutual funds and foreign institutional investors held 3.64 per cent and 16.92 per cent stake.

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