look news india
New India Assurance Share Price: New India Assurance is going to increase the premium of some of its health insurance plans by 10 percent. Our partner CNBCTV-18 has given this information in a report. The report quoted sources as saying that the company is going to increase the premium of 9 health insurance plans by 10 percent from November 1, 2024. The company said that it has made this increase on the basis of its increasing loss ratio and the new guidelines of IRDAI. With this increase, about 25 percent of the company's health insurance products will become expensive.
However, giving relief to the users, there has been no increase in the price of the company's major health products. Let us tell you that the share of health products in the total portfolio of New India Insurance is 53 percent.
Due to this report, the shares of New India Assurance rose today on 30th July. Around 1.30 pm, the company's shares were trading at Rs 289.35 with a gain of more than 3 percent. The company's shares have increased by about 32 percent since the beginning of this year. In the last one year, it has given a multibagger return of 130 percent to its investors.
The market cap of New India Assurance is currently around Rs 47,000 crore and its shares are trading at a PE ratio of 42.16. Its 52-week high is Rs 324.70 and its shares are currently trading around 11 per cent below this level. At the same time, its 52-week low is Rs 120.70, from which its shares are trading around 140 per cent up.
Due to the news of increase in premium, the shares of General Insurance Corporation also rose today and its shares were trading at Rs 422.80 with a rise of 5 percent.
