GoDigit Insurance has come down with some decline in the equity markets on Friday, January 24. This came to pass after the insurer made monumental gains at the markets on Thursday, January 23. The company shares rocketed by over 20 per cent in the trading session on Thursday.
Dip After Surge
However, the momentum has not carried over, at least in the early hours of the trading day.
The company started with the backing of the Indian cricketer Virat Kohli surged after it reported a monumental rise in its profit after tax or PAT.
The net profit of GoDigit increased from Rs 43 crore in the same quarter of the previous year to Rs 118.5 crore in the latest quarter that ended in December.
The company recorded a net profit jump of 74.1 per cent YoY. The shares surged in excess of 20 per cent on the day.
GoDigit Shares Hit Red
When we look at the turn of events on Friday, the company shares started with a dip, starting the day at Rs 318.55, lower than the previous day’s closing of Rs 327.35 per share.
After hitting the high of 323.40, it slipped to the day’s low of Rs 309.40 per share.
The overall decline of the company shares stood at 2.73 per cent or Rs 8.95. This took the overall of the fintech company to Rs 318.40 per share.
Here, the 52-week high is at Rs 407.40, and the 52-week-low stood at Rs 277.00 per share.
This current decline in the stock price, after an astronomical rise in the value can be attributed to a correction period in the company shares, as investors weigh their options after the rush to buy the company shares on Thursday.
The company was listed on the exchanges only about a year ago, when it was welcomed to Dalal Street on Thursday, May 23, 2024.
