LIC Q3 earnings: Emkay APE falling 14.3 per cent YoY to Rs 10,561.70 crore compared with Rs 12,317 crore in the year-ago quarter. Value of new business (VNB) is seen at Rs 1,641.10 crore against Rs 1,801 crore YoY
Analysts expect LIC s positive upside to continue with the possibility of growth revival in FY25 and a potential step change in dividend. LIC s shares have been performing well, supported by favorable valuation and strong EV growth.
LIC s m-cap crossed the Rs 7 lakh crore mark for the first time on Thursday to become India s fourth largest stock by beating ICICI Bank and Infosys. The value of LIC shares is now double that of its next 3 listed competitors - HDFC Life (Rs 1.3 lakh crore), SBI Life (Rs 1.49 lakh crore) and ICICI Prudential Life Insurance (Rs 76,000 crore).
The LIC board would be considering a proposal of interim dividend for FY24 today. Emkay Global sees LIC clocking a 12.2 per cent year-on-year (YoY) jump in net profit at Rs 7,108.70 crore for the third quarter compared with Rs 6,334.20 crore in the corresponding quarter last year.