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.