ICICI Lombard General Insurance shares slumped nearly 15% in trading, hitting a 52-week low as investors reacted to disappointing first-quarter financial results.
The sharp decline followed the company's disclosure of a 46% year-on-year drop in net profit to ₹403.17 crore for the quarter ending March 2026.
Brokerage firms responded swiftly to the earnings miss, cutting target prices and downgrading their outlooks for the insurer.
The sell-off reflects growing concerns over the company's near-term earnings trajectory and profitability pressures within the general insurance segment.
The move adds to a day of broad-based weakness in Indian equities, where selling pressure has intensified across multiple sectors.
IDFC First Bank also saw its shares fall sharply, snapping a three-day winning streak as market sentiment cooled.