Angel One's Amar Singh Sees Growth In ICICI Lombard From Insurance Space. GST Council May Cut Tax

Angel One's Amar Singh sees strong growth potential for ICICI Lombard in the insurance sector, highlighting its strength over HDFC Life with no signs of a pullback. Amar Singh predicts traction in the space, with select stocks likely to surge in the near term. Additionally, the GST Council is set to meet on Monday, September 9th, to discuss key issues, including the potential reduction of the GST rate on life and health insurance policies. Reports indicate that one proposal is to allow mediclaim companies to charge a 5% GST rate without input tax credit (ITC) benefits.