ICICI Lombard Q2 Review: ICICI Securities Upgrades Stock To 'Buy' — Check New Target Price

Exemption of GST has made health/motor insurance more affordable for customers. ICICI Lombard's management remains committed to passing on the complete benefit of lower GST rates to policyholders which should accrue higher volumes..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.ICICI Lombard General Insurance Company Ltd. has reported healthy earnings growth of 25.4% over the last three years and 22.9% YoY growth in H1 FY26 (26.2% ex-capital gains). Even on five-year basis, earnings CAGR is 16%, highlighting the compounding potential of the stock which warrants a commensurate multiple. Sectoral challenges, in terms of lower motor growth and higher loss ratios, are cyclical but growth may improve in H2 FY26 driven by GST cuts accompanied with better loss ratios. Upgrade to Buy from Add, as we revise our target price to Rs 2,250 (vs Rs 2,078), based on 32x FY27E EPS of ~Rs 70.3 (earlier 30x FY27E EPS of Rs 69.3). Higher growth expectation is the primary driver for upgrades. Key risk: Earnings impact from higher competitive intensity..Click on the attachment to read the full report:.ICICI Prudential Life Q2 Review: Yes Securities Maintains Cautious 'Add', Revises Target Price — Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Lombard Q2 Review: ICICI Securities Upgrades Stock To 'Buy' — Check New Target Price

Higher growth expectation is the primary driver for upgrades, adds the brokerage.

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