July 25, 2018 / 6:15 AM / in 5 months

BUZZ-India's ICICI Prudential Life Insurance sees biggest intraday pct gain in 3 mths

** Private sector life insurer’s shares up as much as 6.70 pct at 411.60 rupees, their biggest intraday pct gain since April 25

** Co reports over 30 pct fall in Q1 profit; net premium income rises to 54.38 bln rupees vs 48.20 bln rupees y-o-y

** CLSA analysts expect premium growth to normalise, margins to expand

** Value of New Business, which is the profit from fresh business, rose by 34 pct, led by expansion in margins to 17.5 pct - CLSA

** Rise in share of protection premium, better persistency, change in tax assumptions key drivers of margin expansion, say CLSA analysts; expect margins to trend towards 20 pct over next 3 yrs

** Investec analysts back co as the best managed life insurer, believe management change concerns unwarranted

** More than 7 mln shares traded vs 30-day moving avg of about 1.6 mln shares

** Out of 23 brokerages, 22 rate the stock “buy” or higher, 1 “hold”; their median PT is 520 rupees, according to Thomson Reuters data

** Up to Tuesday’s close, stock had risen 0.84 pct compared with a 24.4 pct increase in private-sector rival HDFC Standard Life Insurance Co Ltd

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