ICICI Prudential Life Q1 Results Fail To Sway Sentiment; SEBI RA Sees Short-term Weakness Below ₹645
Synopsis
Despite healthy Q1 earnings, ICICI Prudential Life’s stock declined for a fifth time in seven sessions. Technical indicators suggest a pause in momentum.
ICICI Prudential Life Insurance reported steady Q1FY26 earnings on Tuesday. Profit increased 34.2% to ₹302 crore, supported by higher investment income, while net premium income rose 8.1% to ₹8,954 crore. Its assets under management (AUM) rose 5% to ₹3.24 lakh crore.
However, the results did little to boost investor sentiment as the stock slid for the fifth time in seven sessions. At the time of writing, the shares were trading 2.8% lower at ₹651 on Wednesday.
The recent price action suggests early signs of short-term weakness following earnings-driven profit booking, prompting a cautiously bullish stance for now, said SEBI-registered analyst Vijay Kumar Gupta.
On the technical front, ICICI Prudential Life stock witnessed a sharp post-results decline, closing below both the Tenkan-Sen and Kijun-Sen, and is now testing support at the Ichimoku cloud base, he added.
The commodity channel index (CCI) has slipped to just 2.07, reflecting a loss of momentum after recently entering the overbought zone. Meanwhile, on-balance volume (OBV) signals mild distribution, though there are no signs of panic selling, the analyst said. The breakdown candle on elevated volume hints at institutional selling.
Gupta sees key support at ₹645 and a sustained close below that could trigger further downside, with the next support at ₹632. Resistance lies at ₹665 and then at ₹675. A decisive bounce above ₹665 on strong volume could revive bullish momentum, he added.
Brokerages have been divided on the results.
Morgan Stanley maintained an ‘Equal-weight’ rating with a target price of ₹625, citing a muted outlook despite attractive valuations. Citi remains more optimistic, maintaining a ‘Buy’ rating and raising its target price to ₹850 from ₹800.
Year-to-date losses stand at over 1%.
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