The New India Assurance Company Ltd., incorporated in the year 1919, is a Large Cap company (having a market cap of Rs 22890.72 Crore) operating in Financial Services sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 396.37 Crore, up 84.30 % from last quarter Sales of Rs 215.07 Crore and up 230.69 % from last year same quarter Sales of Rs 119.86 Crore Company reported net profit after tax of Rs 561.31 Crore in latest quarter.
Investment Rationale
Joining previous highs, the stock has broken out from a major trendline resistance formed. Moreover, the breakout was backed by extremely healthy volumes, confirming the strength in the breakout and bullishness in the stock. Technical indicators are also favouring an up move in the coming sessions.
Promoter/FII Holdings
Promoters held 85.4 per cent stake in the company as of June 30, 2020, while FIIs held 0.1 per cent, DIIs 13.4 per cent and public and others 1 per cent.
