General Insurance Corp. spurts over 27% in four days
Shares of General Insurance Corporation of India surged 27.22% in four trading sessions to its current market price of Rs 314, from a recent closing low of Rs 246.80 on 23 October 2019. Meanwhile, the S&P BSE Sensex was up 625 points or 1.59% to 39,875.46.
On the BSE, 1.75 lakh shares were traded in the counter so far compared with average daily volumes of 1.17 lakh shares in the past two weeks. The stock hit an intraday high of Rs 316.90 and an intraday low of Rs 263.10 so far during the day.
The stock hit a 52-week high of Rs 331 on 12 November 2018. The stock hit a 52-week low of Rs 154 on 23 August 2019. General Insurance Corporation of India's consolidated net profit tumbled 74.9% to Rs 192.07 crore on 14.3% rise in net sales to Rs 16,841.22 crore in Q2 June 2019 over Q2 June 2018.
General Insurance Corporation of India is engaged in the business of domestic reinsurance, international reinsurance, and training / life. The company's domestic reinsurance provides reinsurance to the direct general insurance companies in the Indian market.
Source: Capital Market