Niva Bupa Health shares rise 2% after CEO reappointment gets IRDAI nod

Shares of Niva Bupa Health Insurance rose 2% in Thursday’s trading session to their day’s high of Rs 85.60 on the BSE, after the Insurance Regulatory and Development Authority of India (IRDAI) approved the reappointment of Krishnan Ramachandran as chief executive officer and managing director for a five-year term.

The regulator’s approval, disclosed in an exchange filing on Wednesday, paves the way for Ramachandran to continue at the helm of the company from May 1, 2025, through April 30, 2030. The board of directors had earlier cleared his reappointment.

Ramachandran has been associated with Niva Bupa Health Insurance since April 2020 and brings more than two decades of experience in the health insurance, healthcare, and life sciences sectors. His previous leadership roles include CEO positions at Deloitte Consulting L.P. and Arthur Andersen. He also served as chief operating officer at Apollo DKV Insurance Co.

An alumnus of IIT Madras and IIM Calcutta, Ramachandran holds a Bachelor’s degree in Electrical and Electronic Engineering and a postgraduate diploma in management.

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Shares of Niva Bupa Health Insurance closed 8% higher at Rs 83.76 apiece on Wednesday. The stock has advanced 13.2% over the past 12 months, though it is down 0.4% on a year-to-date basis.Technical indicators point to strong momentum, with the stock trading above all six key simple moving averages, including the 50-day and 100-day SMAs. The 14-day Relative Strength Index stands at 69.9, just below the overbought threshold of 70.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)