Explained: Why ICICI Prudential stock price tumbled 10% after Q3 results
ICICI Prudential Life Insurance Company’s share price fell as much as 10% in early trade on Tuesday.
The decline in the company’s share price came a day after Q3FY25 results, where it reported a 43% rise in net profit to Rs 326 crore.
While the life insurance company beat analysts’ estimates, shares of the company declined as brokerages only maintained a neutral stance.
Analysts at Goldman Sachs maintained a ‘neutral’ rating on the stock, with a target price of Rs 650, slightly lower than the earlier Rs 665.
It acknowledged the company’s strong annual premium equivalent (APE) growth, but added that it came at the cost of margins. It also highlighted that the product mix has shifted towards lower-margin products, which is another…
