LIC Share Price: Life Insurance Corporation of India (LIC) shares surged sharply on November 7th, amid a sharp decline in the market. LIC stock rose more than 4% to reach ₹936.95. LIC shares opened at ₹910 and closed at ₹924.15, up more than 3%. This rise was largely due to the company’s excellent second quarter (Q2 FY26) results, which reinvigorated investor confidence in the market.
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LIC reported a 32% increase in profit in the quarter
LIC announced its second-quarter results for FY26 on November 6th. The company reported a standalone net profit of ₹10,053.39 crore in Q2. This is approximately 32 percent higher than the profit of ₹7,620.86 crore reported in the same period last year. Improved investment income and strong policy sales boosted the company’s profits.
Brokerage firms raise target price
Following LIC’s strong financial results, several brokerage firms have expressed confidence in the company’s stock. Domestic brokerage JM Financial has set a target price of ₹1,111 and a ‘BUY’ rating for LIC, which is approximately 24 percent higher than the current price.
Motilal Oswal has also maintained a ‘BUY’ rating on the stock and has a target of ₹1,080, while HDFC Securities has maintained an ‘ADD’ rating and has set a target of ₹1,065.
In the same vein, Bernstein has given a ‘Market-Perform’ rating to the stock and raised its target to ₹1,070 per share. Meanwhile, Emkay Global has given an ‘ADD’ rating and announced a new target of Rs 1,100.
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Shares are below their record high
LIC shares were listed in May 2022 at an issue price of Rs 872. Initially, the stock weakened and fell to Rs 530. However, it subsequently saw a strong recovery and reached an all-time high of Rs 1,222 in August 2024. Currently, LIC shares are trading at Rs 924.15, down nearly 25 percent from their record high.