For the fiscal year 2023-24, ICICI Lombard reported an 11% rise in its profit after tax, amounting to Rs 1,919 crore, up from Rs 1,729 crore in the previous fiscal year.

Global cyclicals such as oil & gas and metal are forecasted to lag behind. This comes amidst a backdrop of continued market tumult, characterized by significant sell-offs in IT stocks, exacerbated by weak global market trends and apprehensions surrounding escalating tensions in the Middle East.

Among the Sensex firms, Reliance Industries, ICICI Bank, Power Grid, Infosys, NTPC, Tech Mahindra, Tata Consultancy Services and UltraTech Cement were the major gainers.

The increase in revenue was led by growth in broking income in the cash segment along with the investment banking segment.