Share price of ICICI Lombard falls as Nifty weakens

Shares of General Insurance Company Ltd. slipped 0.91 per cent to Rs 1475.95 in Tuesday’s trade as of 12:18PM (IST). The stock hit a high price of Rs 1489.55 and low of Rs 1466.75 during the session.

The return on equity (ROE) for the stock stood at 20.92 per cent. Traded volume on the counter stood at 12:18PM shares and turnover at Rs 0.72 crore around that time. The stock of ICICI Lombard General Insurance Company Ltd. quoted a 52-week high price of Rs 1625.0 and 52-week low prices of Rs 1201.0, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.64.

Promotor/FII Holding

Promoters held 51.88 per cent stake in the company as of 31-Mar-2021, while overseas investors held 29.08 per cent and domestic institutional investors had 9.85 per cent.

Key Financials

The company reported consolidated sales of Rs 920.72 crore for the quarter ended 31-Mar-2021, up 103.68 per cent from previous quarter’s Rs 452.05 crore and up 55.11 per cent from the year-ago quarter’s Rs 593.58 crore. Net profit after tax for the latest quarter stood at Rs 345.68 crore, up 22.61 per cent from the same quarter a year ago.

The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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