February 18, 2024
LIC Share Price Surges Over 6% Following Positive Q3 Results and Upgrades
Finance Stock Markets

LIC Share Price Surges Over 6% Following Positive Q3 Results and Upgrades

LIC Share Price Surges Over 6% Following Positive Q3 Results and Upgrades

LIC Share Price Surges Over 6% Following Positive Q3 Results and Upgrades

Life Insurance Corporation of India (LIC) witnessed a significant surge in its share price, climbing more than 6% during Monday’s session. The intraday high reached ₹1,150 on the Bombay Stock Exchange (BSE).

The boost is attributed to brokerages upgrading the stock and raising target prices after impressive Q3 results. LIC’s standalone net profit in Q3FY24 rose by 49% to ₹9,444 crore, fueled by increased net premium income and income from investments.

Brokerages like JPMorgan, Religare, and Kotak Institutional Equities have raised target prices for LIC, expressing confidence in its performance.

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