Go Digit General Insurance Ltd Share Price – NSE  /  BSE

Insurance, Small Cap

The key equity benchmarks traded with substantial gains in the mid-afternoon trade. The Nifty traded above the 24,750 mark. Auto shares extended gains in the two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 1,103.04 points or 1.38% to 81,146.54. The Nifty 50 index climbed 377.50 points or 1.55% to 24,783.60.

In the broader market, the S&P BSE Mid-Cap index rallied 2.12% and the S&P BSE Small-Cap index added 1.05%.

The market breadth was strong. On the BSE, 2,649 shares rose and 1,193 shares fell. A total of 134 shares were unchanged.

Buzzing Index:

The Nifty Auto index advanced 2.17% to 26,183.65. The index rallied 3.45% in the two consecutive trading sessions.

Bharat Forge (up 5.94%), Ashok Leyland (up 5.79%), Balkrishna Industries (up 2.85%), Apollo Tyres (up 2.72%), Samvardhana Motherson International (up 2.15%), Mahindra & Mahindra (up 2.03%), TVS Motor Company (up 2.03%), Bajaj Auto (up 2.01%), Eicher Motors (up 1.93%) and Exide Industries (up 1.9%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal rallied 1.48% to 7.055 as compared with previous close 7.076.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.7200, compared with its close of 83.7800 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement rose 0.44% to Rs 67,753.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 104.44.

The United States 10-year bond yield shed 0.09% to 4.254.

In the commodities market, Brent crude for September 2024 settlement lost 9 cent or 0.11% to $82.28 a barrel.

Stocks in Spotlight:

Piramal Pharma fell 1.05% after the pharmaceutical company’s consolidated net loss contracted to Rs 88.64 crore in Q1 FY25 as against Rs 98.58 crore posted in Q1 FY24. Revenue from operations grew by 11.57% year on year (YoY) to Rs 1,951.14 crore during the quarter, driven by robust high-teen growth in the CDMO business and steady double-digit growth in the ICH business.

Go Digit General Insurance jumped 3.75% after the company’s consolidated net profit jumped 74.14% to Rs 101 crore in Q1 FY25 as compared with Rs 58 crore in Q1 FY24. Total income increased 24.57% YoY to Rs 2,076.99 crore in Q1 FY25.

Glenmark Life Sciences declined 2.97% after the company’s standalone net profit declined 17.69% to Rs 111.48 core in Q1 FY25 as compared with Rs 135.45 crore in Q1 FY24. Revenue from operations rose 1.75% YoY to Rs 588.62 crore in the first quarter of FY25.

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Total income increased 24.57% YoY to Rs 2,076.99 crore in Q1 FY25.

Gross written premium jumped 22.13% to Rs 2,660 crore in Q1 FY25 as compared with Rs 2,178 crore posed in corresponding quarter last year.

Net premium income stood at Rs 2,026.81 crore in Q1 FY25, up 20.98% YoY.

Asset under management (AUM) stood at Rs 17,773 crore as on 30 June 2024 as compared with Rs 13,337 crore as on 30 June 2023.

Premium Retention Ratio for Q1 FY25 is 76.2%, as compared to 76.9% in Q1 FY24 while Combined Ratio for Q1 FY25 is 105.4%, as compared to 106.2% in Q1 FY24.

Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. It offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products.

The scrip entered into the stock market on 23 May 2024. The counter was listed at Rs 281.10, exhibiting a 3.35% premium to the issue price of Rs 272.

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Net profit of Go Digit General Insurance rose 73.35% to Rs 101.34 crore in the quarter ended June 2024 as against Rs 58.46 crore during the previous quarter ended June 2023. Sales rose 23.64% to Rs 1823.73 crore in the quarter ended June 2024 as against Rs 1475.01 crore during the previous quarter ended June 2023.

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Go Digit General Insurance announced that the 8th Annual General Meeting (AGM) of the company will be held on 14 August 2024.

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