Life Insurance Corporation of India (LIC) has reported a standalone net profit of Rs 13,428 crore for Q4 FY23, a 466% increase YoY, prompting brokerages including Motilal Oswal, Axis Capital and JM Financial to recommend “Buy” on the stock, while Emkay has maintained its “Hold” rating. LIC’s net premium income fell 8% to Rs 1.31 lakh crore during the March quarter, compared to last year. The company’s first-year premium for the period totalled Rs 12,811 crore, down 12% YoY. Its net commission rose 5% to Rs 8,428 crore, while the full-year profit fell 10% to Rs 36,397 crore.
RBI doubles bond purchases to Rs 40,000 crore
Market participants are expecting additional liquidity support via variable rate repo (VRR) auctions and open market operations (OMO) purchases, both planned and unplanned, along with
February 11, 2025