In the early session on July 19, shares of Go Digit General Insurance saw a 7% increase to Rs 363 as international brokerage Citi initiated coverage with a ‘buy’ call, noting numerous growth levers for the firm.
With a price target of Rs 425 set by analysts, there is a 25% potential upside from current market levels. Citi anticipates that the company’s Return on Equity (RoE) will rise from around 7% in FY24 to 15–16% in FY26–27.
On May 23, Go Digit shares were first listed on the bourses. On the listing day, shares were listed at a 12% premium to the issue price and have since risen by 17%.
As of 11:49 am, Go Digit were trading 1.94% higher at ₹346.20.
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