Meanwhile, the S&P BSE Sensex was up by 215.24 points, or 0.55% to 39,338.20.

On the BSE, 2.52 lakh shares were traded in the counter so far compared with average daily volumes of 31,000 shares in the past two weeks.

The stock slipped as much as 8.16% at the day's low of Rs 1081.35 in afternoon trade, the lowest since 15 May 2019. It hit an intraday high of Rs 1180.

The stock hit a 52-week high of Rs 1,264.50 on 6 June 2019 and a 52-week low of Rs 683 on 29 June 2018.

ICICI Lombard General Insurance Company's net profit rose 7.5% to Rs 227.73 crore on a 21% rise in the net sales to Rs 2197.47 crore in Q4 March 2019 over Q4 March 2018.

ICICI Lombard General Insurance Company is one of the leading private sector general insurance companies in India with a gross written premium (GWP) of Rs 147.89 billion for the year ended 31 March 2019.