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    Share price of ICICI Pru Life falls as Nifty weakens

    Synopsis

    A total of 5,034 shares changed hands on the counter till 10:36AM (IST).

    NiftyGetty Images
    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. slipped 0.24 per cent to Rs 422.7 in Friday's trade as of 10:36AM (IST). The stock hit a high price of Rs 429.85 and low of Rs 421.45 during the session.

    The return on equity (ROE) for the stock stood at 8.31 per cent. Traded volume on the counter stood at 10:36AM shares and turnover at Rs 0.21 crore around that time. The stock of ICICI Prudential Life Insurance Company Ltd. quoted a 52-week high price of Rs 608.65 and 52-week low prices of Rs 380.95, 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 0.0 per cent stake in the company as of 31-Mar-2023, while foreign investors held 15.21 per cent and domestic institutional investors had 4.59 per cent.

    Key Financials
    The company reported consolidated sales of Rs 10767.43 crore for the quarter ended 31-Mar-2023, down 38.35 per cent from previous quarter's Rs 17466.3 crore and down 17.42 per cent from the year-ago quarter's Rs 13038.14 crore. Net profit after tax for the latest quarter stood at Rs 235.26 crore, up 25.89 per cent from the same quarter a year ago.

    Technicals
    The MACD signalled a bearish 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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