ICICI Lombard shares rise 1.15 per cent in Tuesday's trading session

ICICI Lombard shares rise 1.15 per cent in Tuesday's trading session
ETMarkets.com
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Synopsis

The Relative Strength Index of the stock stood at 54.17 on Tuesday.

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of General Insurance Company Ltd. rose 1.15 per cent to Rs 1426.05 in Tuesday's trade as of 10:46AM (IST) even as the benchmark Nifty ruled at 17697.00, up 71.3 points.

The scrip had closed at Rs 1409.85 in the previous session. The stock quoted a 52-week low of Rs 1295.0 and a high of Rs 1674.0. The company quoted a market-cap of Rs 70030.73 crore on the BSE.

On BSE, 5,234 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 55.69 times its trailing 12-month EPS of Rs 25.64 per share and 8.04 times its book value. The return on equity (ROE) stood at Rs 18.15.

Key Financials
For the quarter ended 30-Sep-2021, ICICI Lombard General Insurance Company Ltd. reported consolidated sales of Rs 631.25 crore, up 16.64 per cent from the same quarter a year ago. The company reported 7.44 per cent YoY growth in net profit at Rs 446.67 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Tuesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.

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