ICICI Prudential Shares Drop 4% on Weak Q1 Topline, Persistency Concerns

ial Life Insurance shares fell 4% after a mixed Q1 FY26 performance. Despite a 34.2% YoY net profit surge to Rs 302 crore, muted APE growth, weaker persistency, and a declining savings business dampened investor sentiment. The value of new business (VNB) dipped to Rs 457 crore, though the VNB margin improved to 24.5%. Morgan Stanley maintained an "Equal-Weight" rating with a Rs 625 target, citing weak APE, persistency, and annuity declines but noted strong protection growth and cost control. Motilal Oswal reiterated a "buy" with a Rs 780 target, expecting improved margins and non-linked product traction to drive profitability.