New India Assurance Co. Ltd up by 19.99 percent | Espresso

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Espresso shot of the day - New India Assurance Co. Ltd up by 19.99 percent

February 18, 2021
Espresso shot of the day - New India Assurance Co. Ltd up by 19.99 percent

NEW INDIA ASSURANCE CO. LTD 164.20 (+19.99 %)  BSE – INE470Y01017| 18th FEB 2021

The New India Assurance Co. Ltd., founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company, today operates in 28 countries and headquartered at Mumbai, India. Their global business crossed Rs 29715 crores in March 2020. They have been market leaders in India in Non-Life business for more than 50 years. Their Indian business crossed Rs 26813 crores in March 2020. 

Recent Drivers

  • The New India Assurance Co. Ltd. posted a 5.9 % rise in consolidated net profit at Rs 523.89 crores for the third quarter ended December 2020. It had registered a net profit of Rs 494.88 crores in the same quarter a year ago.
  • The general insurer also reported a 4.3 % increase in total income at Rs 7,982.74 crores in Q3 of 2020-21 as against Rs 7,652.59 crores in the same period of 2019-20.
  • Gross premium written during the reported quarter rose to Rs 7,889.38 crores as against Rs 7,045.66 crores earlier.
  • The New India Assurance Co. Ltd. said it made provisions for doubtful debts (including bad debts written off) to the tune of Rs 142.44 crores for Q3 FY21, up from Rs 36.12 crores provision in the year-ago quarter.
  • The company has increased its market share the growth has been accompanied by healthy operating metrices with combined ratio declining from 116.37 % in 9 month of FY20 to 109.62 % in 9 months FY21.
  • The government Centre hold stakes in other general insurance firms—New India Assurance, National Insurance and Oriental Insurance. 
  • At present, the government owns an 85.44 % stake in the company.
 (Sources: ET Now, The Economic Times, Business Standard )

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 10.44%
  • Traded on new 52- week high 164.20
  • Touched upper circuit 164.20
  • Spurt in volume by more than 18.77 times compares to previous vol. 3 months avg qty – 7,94,531
  • Stock price has jumped more than 100% from three month low level – 75.0, 24 March 2020
  • Daily RSI (14) is in overbought territory today
  • 52 -week high – 164.20 | 52- week low- 75.00

 Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

272.50

222.25

175.50

125.25

78.50

28.25

-

-

Fibonacci Pivot

222.25

185.20

162.30

147.56

125.25

102.94

88.20

65.30

28.25

Today’s Close

164.20

SMA

BSE

10 DAY

137.36

20 DAY

135.17

50 DAY

132.15

200 DAY

118.11

Some Key Ratios (Source: BSE)

Market Cap: 27,060.16 crores

PE: -Not Available

OPM%: -Not Available

ROE%: -Not Available

Prev. Close: 136.85

*Chart And Technical Force data taken from the Binge desktop app - espresso

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.