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LIC Shares Surge on Strong Q1 Earnings and Upgraded Target Price
LIC Shares Surge on Strong Q1 Earnings and Upgraded Target Price
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BTCCSquare news:
Life Insurance Corporation of India (LIC) shares climbed 3.08% to ₹912.25 in morning trading following a 5.02% year-on-year rise in Q1FY26 net profit. The stock hit an intraday high of ₹927.10 as investor sentiment turned bullish.
Citi reaffirmed its 'Buy' rating while lifting the target price to ₹1,370, citing robust 20.75% growth in Value of New Business (VNB) and 150-basis-point margin expansion to 15.4%. The brokerage highlighted improved business quality and agency channel performance as key drivers.
LIC maintained insurance sector dominance with 63.51% market share in first-year premiums. Individual business Non-Par APE soared 32.63% to ₹2,142 crore, while solvency ratio strengthened to 2.17 from 1.99.
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