Shares of state-run insurer Life Insurance Corporation of India (LIC) jumped nearly 7% morning deals on February 8.
India’s largest public sector insurer, LIC, witnessed a notable rise of over 3 percent, reaching a fresh record high of Rs 1,100 on the NSE. This surge comes ahead of the eagerly anticipated Q3 earnings report expected later today. Analysts at Emkay Global project a robust 12.2 percent year-on-year profit increase for LIC, forecasting Rs 7,108.70 crore for the December quarter. Additionally, the insurer’s board is set to deliberate on the possibility of paying an interim dividend for FY24.
As of 12:46 pm, trading data indicated LIC’s shares were up by 6.34%, reaching ₹1,110.65, underlining the positive sentiment surrounding state insurers among investors.
