ICICIGI CMP 1979. ENTRY ABOVE 1980 TARGET 1997, SL 1969.

ICICIGI CMP 1979. ENTRY ABOVE 1980 TARGET 1997, SL 1969.

The stock is an up-move faster than the benchmark index i.e. Nifty50. The stock has a rejection level at around Rs.1997, hence it will reach the level if it sustains above intraday resistance of Rs.1980, considering a stop below Rs.1969.

ICICI Lombard General Insurance Company has shown impressive growth in the last couple of months, hovering in a cycle of higher highs–higher lows. This surge has been accompanied by several key developments, starting with a rounding base formation to surpass 200 DSMA, which suggests that market interest is building and points to the possibility of a reversal in its trend. Additionally, the 14-day RSI signifies a positive crossover, adding a bullish quotient. Overall, these technical indicators suggest that ICICIGI may be entering a period of sustained growth, making it an intriguing option for those looking to invest.

The recent upmove in insurance stock is fueled by the fact that there are speculation about the Government of India (GoI) approving the Insurance Regulatory and Development Authority of India or IRDAI's proposal to raise term plan insurance premiums. The rise in general insurance stocks to the buzz about the Government of India (GoI) considering approving IRDAI's suggestion for a hike in the term plan insurance premiums by around 18%.

Company profile :

ICICI Lombard General Insurance Company Limited is one of India’s leading private sector general insurance companies. Headquartered in Mumbai, it is a joint venture between ICICI Bank, India’s second-largest private bank, and Fairfax Financial Holdings of Canada. Since its inception in 2001, ICICI Lombard has played a pivotal role in shaping India’s non-life insurance landscape through innovation, technology-led growth, and a diversified product offering.

The company went public in 2017 and is listed on both the NSE and BSE under the ticker ICICIGI. Over the years, ICICI Lombard has emerged as a market leader across various non-life segments, including motor, health, travel, fire, marine, and crop insurance.

Core Business Areas and Product Portfolio

ICICI Lombard offers a comprehensive suite of general insurance products, which serve both retail and corporate clients. Its product categories include:

1.   Health Insurance

o    Individual and family floater plans

o    Group health plans for corporates

o    Specialized offerings like wellness programs and chronic care riders

2.   Motor Insurance

o    Private and commercial vehicle insurance

o    Bundled cover for electric vehicles and instant claim settlement options

3.   Travel and Personal Accident Insurance

o    Global and domestic travel coverage

o    Student travel plans and accident protection

4.   Commercial and Corporate Insurance

o    Fire and property insurance, marine, engineering, and liability policies

o    Customized solutions for MSMEs and large enterprises

5.   Rural and Agriculture Insurance

o    Weather-based crop insurance, livestock protection, and affordable rural health policies