Niva Bupa Up 27% in Two Days on Reports of Reduced GST on Insurance Premiums

Niva Bupa Health Insurance soared by 15% to Rs 94.40 on the BSE in today’s trading session. The rally can be attributed to reports of reduction in Goods and Services Tax (GST) rate on health and life insurance policies.

As of 10:06 AM, shares were trading at Rs 92.45 up 13% on the BSE. A total of 19.55 million equity shares changed hands on the NSE and BSE till 10:07 am.

Notably, Finance Minister Nirmala Sitharaman said the cost of insurance is set to come down if the GST Council recommends a reduction in the GST rate on health and life insurance policies, PTI reported.

However, Niva Bupa confirmed that it has not received any communication from either a government authority or any department. The company said, “The Company is not aware of any such developments, except for news as appeared in media. We, hence cannot verify/confirm the news.”

Niva Bupa is an Indian health insurance company that offers an array of plans and services in the health insurance space.

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