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LIC share price surges over 6%, brokerages raise target price on robust Q3 results; will the rally continue?
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Life Insurance Corporation of India (LIC) share price climbed by more than 6% on Monday's session, touching an intraday high of ₹1,150 on BSE. The rise in LIC share price today was in response to brokerages upgrading the stock and raising target prices in the midst of impressive Q3 results.
LIC share price today opened at ₹1,149.95 apiece on BSE today. At 12:19 IST, LIC share price was trading at ₹1,053.20 apice, down over 2%.
LIC recorded a 49% rise in its standalone net profit in Q3FY24 to ₹9,444 crore from ₹6,334 crore in the same period the previous fiscal year. The boosts in net premium income and net income from investments were the primary drivers of the better performance.
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