LIC Share Price: The biggest rise in LIC shares after listing, know how much the share jumped and what is the reason #NEWS
LIC Share Price: Shares of Life Insurance Corporation (LIC), the country's largest government insurance company, had climbed 5% in early trade on November 14. This is the biggest rally after the listing of the company's shares. The biggest reason for the rise in LIC shares has been its excellent results (Sep Q2). The company released its September quarter results on Friday. LIC shares were trading at Rs 663.75 with a gain of 5.75% at 10.47 in the morning.
A few days before the release of the September quarter results, there were speculations that LIC may issue bonus shares to its investors. LIC shares gained 2.5% on October 31.
After this, on November 11, LIC's shares closed at Rs 628, up 1.17% against the closing price of the day before. LIC's shares have climbed nearly 9% in the last month. Looking at the excellent results of the September quarter, it is possible that this momentum will continue in the future as well.
领英推荐
How were the LIC results?
LIC has had a great September quarter. The company's net profit increased manifold to Rs 15,952 crore in the July-September 2022 quarter. In the same quarter last year, LIC's net profit was Rs 1433 crore.
The net profit of the insurance company was only Rs 682.9 crore in the June quarter. The business of any insurance company can be gauged from its first-year premium. Accordingly, LIC's first-year premium stood at Rs 9124.7 crore in the September quarter. A year ago it was Rs 8198.30 crore.
LIC's net premium income was Rs 1.32 lakh crore in the September quarter. The net premium income of the company was Rs 1.04 lakh crore in the same quarter last year.
LIC's first-year premium increased by 11% to Rs 9124.7 crore as compared to the previous quarter. A year ago it was Rs 8198.30 crore. Renewal premium increased by 2% to Rs 56,156 crore. While single premium increased by 62% to Rs 66,901 crore.