Niva Bupa Health shares dive 11% today; here's why

Shares of Niva Bupa Health Insurance Company Ltd cracked in Monday's trade on block deal reports in which Fettle Tone and CEO Krishnan Ramchandran likely sold up to 7.2 per cent of their stake in the health insurer. The stock tumbled 11.14 per cent to hit a day low of Rs 82.

On BSE, Niva Bupa topped volume charts as 23.29 crore shares worth Rs 1,921.25 crore were last seen changing hands.

As of March 2025, British insurer Bupa, the promoter of the firm, held a 55.98 per cent stake in the company, while True North, through Fettle Tone LLP, owned 17.47 per cent.

When Niva Bupa Health listed on the Indian stock exchanges in November 2024, it marked the first instance of a pure-play global MNC insurer-backed listing in the country, with British health insurance and healthcare major Bupa as the promoter.

In September 2023, four years after acquiring a majority stake from Max in Max Bupa Health Insurance (later renamed Niva Bupa Health Insurance), True North ceded control to its joint venture partner Bupa by agreeing to sell a 20 per cent stake to the British firm for around Rs 2,700 crore.

Technically, Niva Bupa's scrip traded lower than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs) but higher than the 50-day and 100-day SMAs. Its 14-day relative strength index (RSI) came at 51. A level below 30 is defined as oversold while a value above 70 is considered overbought.