ICICI Lombard Logs Steepest Intraday Decline In 20 Months On Q3 Miss

hares of ICICI Lombard General Insurance Co Ltd. fell 7.37%, the steepest intraday decline in 20 months, to Rs 1,318.1 apiece, after the company’s net profit fell 29% sequentially and missed analyst estimates.

Higher underwriting loss incurred by the company led to the decline in net profit.

Of the 26 analysts tracking the company, 18 maintained ‘buy’, three maintained ‘hold’ and five maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 22.7%. Trading volume on the stock was 11.3 times the 30-day average volume at this time of the day.

Source: Bloomberg, Exchange Filing

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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