Look at ICICI Prudential at around Rs 280-285-:- Equity Research

G Chokkalingam, Founder & MD at Equinomics Research & Advisory told CNBC-TV18, "We advised our clients not to apply to ICICI Prudential Life Insurance Company because we have found that it is quite stretched in terms of valuations. So, even after weak opening, I would still suggest hold and wait for anywhere below Rs 300." "If you see the last four years, its net profit has grown at around 5 percent per annum and the premium also has grown in single digit at around 8 percent. Going forward, the competition is going to be very tough because we have seen the consolidation, we have seen the infusion of FDI into the insurance sector and third the whole economy has slowed down, so therefore the insurance business also has slowed down. So, therefore I would be comfortable to look at the stock anywhere around Rs 280-285 levels," he added