December 20, 2024
New Delhi, India
GIC Shares
Shares of General Insurance Corporation of India (GIC) soared nearly 11% on December 20, reaching a record high of ₹494.45 amid a sharp rise in trading volumes. By 11:48 AM, the stock was trading at ₹488.80 on the NSE.
Unprecedented Trading Activity
The surge in GIC shares was accompanied by a significant increase in trading volumes, with around one crore shares changing hands on the exchanges, far exceeding the one-month daily average of 14 lakh shares. Over the past month, the stock has gained nearly 32%.
Q2 FY25 Financial Highlights
- Net Profit: ₹1,860.76 crore, up 15.9% YoY from ₹1,605.09 crore in Q2 FY24.
- Sequential Growth: Net profit jumped 74.4% from ₹1,036.06 crore in Q1 FY25.
- Key Drivers: Strong investment income and reduced commission costs supported the profit growth.
Operational Metrics
- Solvency Ratio: Improved to 342% from 282% YoY.
- Combined Ratio: Narrowed to 114.05% from 115.83%.
- Underwriting Loss: Reduced by 26%, falling to ₹1,088.43 crore from ₹1,471.61 crore.
With a robust financial performance and positive investor sentiment, GIC continues to show promising growth in the insurance sector.
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