India Business News: The shares of Life Insurance Corporation of India (LIC) have bounced back impressively after recent declines, rising 6% to Rs 972 in the first session of FY25. This surge brought the stock above its IPO price of Rs 949, marking a strong recovery for India's largest insurer.
The Q3FY24 numbers of several Indian IT firms were not as bad as analysts had feared, giving a boost to their stock prices and raising hopes that the worst may be behind for the IT sector.
To find out how the rising tide has been strong enough to lift all boats, ETMarkets scanned price performance data of all BSE-listed stocks in between March 20 and December 29, the last trading day of 2023.
Infosys ADRs are currently trading at $18.99, up about 4.8% from the previous close. The Bengaluru-based software exporters net profit fell 7% to Rs 6,106 crore in the quarter ended December. However, the profit figure was on par with ET Now poll estimate of Rs 6,140 crore.