Shares of Go Digit General Insurance fell 5.7% during intraday trading on November 18, reaching INR 313 apiece. This marks the fourth consecutive session of decline, reflecting broader losses in new-age tech stocks, which dropped between 0.08% and 17% last week. Despite this, Go Digit posted strong Q2 FY25 results with a 221% YoY rise in PAT to INR 89.47 Cr and a 14.2% increase in GWP to INR 2,368
Shares of Go Digit General Insurance dropped 5.7% during intraday trading today (November 18) on the BSE, falling to INR 313 apiece. As of 1:32 PM, the stock was down 5.6%, trading at INR 313.45 compared to its previous close of INR 332.00 on November 14.
The Virat Kohli-backed startup has been in the red for four consecutive sessions, mirroring a decline in broader new-age tech stocks. Over the past week, 24 new-age tech stocks covered by Inc42 fell between 0.08% and 17%. The dip is attributed to weak Q2 FY25 financial performance across the sector and continued FII outflows, which also impacted Indian equities.
However, Go Digit reported strong Q2 FY25 results, with its profit after tax (PAT) surging 221% year-on-year to INR 89.47 Cr and its gross written premium (GWP) rising 14.2% to INR 2,368.57 Cr.
Founded in 2017 by Kamesh Goyal, Go Digit leverages technology to offer insurance across health, motor vehicle, travel, and property segments. The startup, backed by Fairfax, Peak XV Partners, and A91 Partners, went public in May at INR 281 per share, marking a 3.3% gain from its issue price.
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