On March 1, the stock price of ICICI Bank increased by 3% to reach a new high of Rs 1,085.3 per share. This surge followed news that the bank had increased its ownership in ICICI Lombard General Insurance through a transaction in the open market. This was the second such purchase within a week by the private lender. Just days earlier, the bank had bought a 1.6% stake in the insurance company for Rs 1,356 crore.