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ICICI Lombard: High stock valuation likely to sustain; should you buy during phases of market weakness?

At the current market price, ICICI Lombard is trading at a valuation of 6.4 times trailing book value, which is undoubtedly rich. However, MC Pro believes its premium valuation will sustain given market-leading share in a secular growth sector, and several other tailwinds. We believe any weakness in the stock price should be used as an opportunity by long-term investors to add the stock. Here's why

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