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Shares of General Insurance Corporation of India (GIC Re) hit a 52-week high of Rs 230.20 after rallied 10 per cent on the BSE in intra-day trade on Tuesday on the back of heavy volumes. The trading volumes on the counter jumped over four-fold with a combined 3.4 million equity shares having changing hands on the NSE and BSE till 10:58 am. In comparison, the S&P BSE Sensex was up 0.70 per cent at 50,748 points. In the past one month, the stock of state-owned general insurance company has rallied 62 per cent on reports that the government is considering privatisation of United India Insurance and General Insurance Corporation. The benchmark index was down 2.5 per cent during the same period.

Nirmala sitharamanIndia assurance companyInsurance corporation of indiaLife insurance corporation of indiaInsurance corporationGeneral insurance corporationUnited india insuranceGeneral insuranceUnion finance minister nirmala sitharamanLife insurance corporationNew india assurance companyGeneral insurance corporation of india share priceGic re share priceInsurance stocksPrivatisation newsBudget 2021