Introduction

New India Assurance Company Ltd is India's largest non-life insurance company. It is promoted by the Government of India (GoI) holding ~86% stake. It operates through the following business segments: Fire, Marine, Motor, Crop, Health, and Others. The Fire segment offers fire and special perils insurance; business interruption insurance; and large risk package insurance policies. The Marine segment comprises of marine cargo insurance; hull and machinery insurance; and offshore oil and energy insurance products. The Motor segment covers liability only (third party) policies and comprehensive motor (third party and own damage) policies. The Crop segment consists of Pradhan Mantri Fasal Bima Yojana farmers package insurance; weather-based crop insurance; unified package insurance schemes; and horticulture or plantation insurance. The health segment involves individual health products such as mediclaim, floater, and mediclaim products; corporate (group) health insurance products; and personal accident products and schemes. The Others segment pertains to liability insurance; engineering insurance; aviation insurance; nuclear insurance; fidelity guarantee and burglary insurance; householder insurance; and insurance specific commercial insurance.

Observation

After rejection two times from the level of 290 now stock is ready to breakout 290 levels if its breakout 290 level and sustain with rounding bottom pattern. it can easily go up to the levels of 370. last trading volume was huge it shows stock will not stop here. stock Rsi is strong on all TF trade above all the EMA. stock will not breakout down rising trend line as per technical analysis it can consolidate before breakout 290 levels I have marked on the chart. on monthly chart stock close above the march month candle. also show bullish crossover on feb 2024 stock will fire in coming month.

Let's touch fundaments

Stock PE is 43 from 160 ROCE is 5.20, ROE 4.12 zero debt to equity, zero pledge, Publick holding is only 2.12% 86% promotors holding stock is PSU and strong hands.

Technical Analysis & indicators 🔍

News of the day

1. UltraTech Cement, India's No.1 cement maker, said its board on Sunday approved a $472 million (₹3,877 crore in Indian rupees) deal to gain control of India Cements, which will bolster its position in the country's southern states. The deal comes as the country's top cement makers vie to dominate a market that is expected to roughly double to $49 billion (₹4.01 lakh crore in Indian rupees) by 2029 from 2022 levels with an expected infrastructure spending boom under the government of Narendra Modi. Ultratech, part of India's Aditya Birla group will buy a 32.72% stake in India Cements from its promoters and their associates, adding to a 23% stake that it bought in June.

2. JSW Steel Ltd is looking to raise around 23 billion rupees (nearly $275 million) via its first bond issuance this financial year, two merchant bankers aware of the matter said on Monday. The company is likely to issue five-year debt, with the actual quantum only to be finalized after talks with investors, the bankers said. "The company is in talks with investors, including some private credit funds, and once something materialises, the coupon and quantum would be locked," one of the bankers said

3. Torrent Power has issued a tender seeking supplies of liquefied natural gas (LNG) over a period of 10 years, two industry sources said on Monday. The utility is seeking delivery of six cargoes per year from 2027. The tender closes on August 16.

Educational content

Mon Jul 29, 2024