GIC Re, New India Assurance extend rally; surge up to 40% in one month

On Monday, shares of General Insurance Corporation hit a fresh 52-week high at Rs 182.65, up 10 per cent; New India Assurance rallied 8 per cent.

Shares of state-owned general insurance companies - the New India Assurance Company and General Insurance Corporation of India (GIC Re) rallied up to 10 per cent on the BSE in Wednesday's intra-day trade, extending their last week upward movement.

Individually, shares of GIC Re hit a fresh 52-week high, surging 10 per cent to Rs 182.65. The company said a meeting of the board of directors of the Corporation is scheduled to be held on Wednesday, December 21, 2022, to consider and approve general matters of the Corporation.

Shares of the New India Assurance Company surged 8 per