The New India Assurance Share Price Today: The New India Assurance shares came under heavy selling pressure on Tuesday, falling as much as 13.71% to Rs 199.50 per share on the BSE.
The stock's sharp decline was accompanied by heavy trading activity on both the BSE and NSE.
At 11:51 am, the stock was trading 9.84% lower at Rs 208.45, while the benchmark BSE Sensex was down 0.6% at 75,680 levels.
On the volume front, around 14.11 lakh shares worth Rs 29.34 crore had changed hands on the BSE, while 254.40 lakh shares worth Rs 527.84 crore were traded on the NSE.
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The New India Assurance Q1 Show
The New India Assurance had reported a consolidated net loss of Rs 244 crore for the quarter ended June, compared with a net profit of Rs 392 crore in the year-ago period.
Net premium earned rose 3.4% year-on-year to Rs 9,747 crore, from Rs 9,424 crore in the corresponding quarter of the previous financial year.
The insurer's solvency ratio stood at 1.80 at the end of the June quarter, compared with 1.84 in the preceding quarter.
The New India Assurance Co. Ltd. is India's largest public sector general insurance company, owned by the Government of India. Founded in Mumbai on July 23, 1919, by Sir Dorabji Tata, the insurer was nationalised in 1973 and remains a market leader in India's non-life insurance sector.
Headquartered in Mumbai, the insurer has a wide domestic network and an international presence across more than 25 countries.
It offers over 160 general insurance products spanning motor, health, travel, home, fire and marine insurance, along with specialised covers for aviation, engineering, satellites and large industrial and petrochemical risks.
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