The share of The New India Assurance Company rose after announcing disclosures regarding GST orders and show-cause notices received.
The order comes after the state-owned insurer was accused of having failed to pay taxes on premiums it received in its co-insurance business
The confusion whether the likely 5 per cent GST rate on insurance premiums will make the policies cheaper or not has worried investors
DMart, Larsen & Toubro, Mphasis, General Insurance Company, Godawari Power (GPIL) and New India Assurance (NIACL) across market categories look favourably placed on technical charts.
On Wednesday, shares of New India Assurance closed at ₹202.62, up 16.77% on the National Stock Exchange.