Dividend, Results On Oct 18: Insurance Stock Falls 6% In 1-Week, Geojit Says Buy

Board of large cap insurance sector stock, ICICI Lombard General Insurance Company Ltd is all set to consider and approve financial results of the Company for the quarter and half year ending on September 30, 2023 and declare of interim dividend, if any on October 18, 2023, according to the regulatory filing of the company. Last trading price of ICICI Lombard share is Rs 1274.10 per share with intraday fall of 2.20%. ICICI Lombard shares witnessed spurt in volume by over 2.91 times today. Check details below:

ICICI Lombard To Consider Interim Dividend, Results On Oct 18: According to the BSE filing of the company dated Sept 28, "Pursuant to Regulation 29, 50 and other applicable Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of Board of Directors of the Company is scheduled to be held on Wednesday, October 18, 2023, in Mumbai, inter alia to consider and approve Audited Financial Results & Audited Financial Statements of the Company for the quarter and half year ending on September 30, 2023 and declaration of interim dividend, if any."

ICICI Lombard Valuation: According to the brokerage report of Geojit dated August 8, buy call has been assigned to ICICI Lombard shares with target price of Rs 1553 apiece. The analyst said, "we believe positive regulatory changes, macros, low penetration, and optimistic consumer sentiment will continue to encourage growth. Hence, we upgrade our rating from HOLD to BUY on the stock with revised target price of Rs. 1,553 based on 5.7x FY25E BVPS."

ICICI Lombard Financials: The company on July 18 announced a net profit of Rs 390.4 crore for the April-June quarter, up 12%. The gross premium surged 19.7% to Rs 6,622.1 crore vs Rs 5530 crore, as per the BSE filing.
Bhargav Dasgupta, MD & CEO, ICICI Lombard, said, "Our strong performance in Q1 reflects our unwavering commitment to delivering value to our stakeholders. Despite challenging market conditions, we have managed to achieve robust growth and maintain profitability."

ICICI Lombard About: ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance, according to its official website.

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The stock has been picked from the brokerage report of Geojit. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.