Buy General Insurance Corporation of India Ltd For The Target Rs.221/232 - LKP Securities
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Future Outlook
• The 50 year old Largest Re-Insurer accounts for over 65% of the premiums ceded by Indian Insurers providing reinsurance across segments.
• Ranked amongst the Top Reinsurers globally in terms of premium, GICRe is a trusted brand in India
Technical Commentary
• GICRE has given a consolidation breakout. Beside, it is sustaining above 50ema.
• RSI is in bullish crossover on the weekly timeframe.
• The trend is likely to remain positive over the short term.
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