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The Economic Times
The Economic Times
Debaroti Adhikary

Explained: Why ICICI Lombard shares tumbled 15% in their biggest fall since the COVID crash

ICICI Lombard Nuvama Emkay Motilal Oswal Insurance

Shares of ICICI Lombard General Insurance Company tumbled 15% on Thursday, putting the stock on course for its steepest single-day decline in more than six years after brokerages slashed target prices following the company's weaker-than-expected June quarter earnings.

The stock plunged to a fresh 52-week low of Rs 1,544.60 on the NSE. If the losses hold through the close, it would mark ICICI Lombard's worst single-day decline since the COVID-19 market crash in March 2020, when the stock had fallen about 18% in a single session.

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