shares traded at ₹926 on the at the closing bell on Friday, gaining 3.34 per cent or ₹29.90 from the previous close of ₹896.10. The stock opened at ₹910 and touched an intraday high of ₹936.95 before settling lower.
Citi maintained a ‘Buy’ rating on LIC with a target price of ₹1,345, citing strong second-quarter performance and continued product mix realignment. The brokerage highlighted encouraging business mix shifts and noted that market share stabilization in individual APE would be key for the stock’s re-rating. Citi expects higher volumes to drive operating leverage and sustain Value of New Business growth trajectory, while also pointing to unlocking trapped value as a focus area amid promoter engagement with investors on potential stake sales.
The optimism follows LIC’s half-year results released on November 6, showing profit after tax rising 16.36 per cent to ₹21,040 crore for the six months ended September 30, 2025. However, quarterly net profit stood at ₹10,098 crore compared to ₹7,729 crore year-on-year, with APE flat at ₹16,382 crore versus ₹16,465 crore.
The insurer’s strategic shift toward non-participating products showed results, with Non-Par APE share in individual business jumping to 36.31 per cent from 26.31 per cent a year earlier. The VNB margin expanded 140 basis points to 17.6 per cent, while the expense ratio improved by 146 basis points to 11.28 per cent. Assets under management grew 3.31 per cent to ₹57.23 lakh crore, though the company’s overall market share dipped to 59.41 per cent from 61.07 per cent.