LIC Shares Jump 9% To Mark Their Best Intra-Day Gain Since Listing In May

Shares of Life Insurance Corporation of India rose as much as 9.1 per cent on Monday, their best intra-day percentage gain since listing in May, after the country's largest insurer reported a surge in quarterly profit on Friday.

LIC's profit after tax surged to 159.52 billion Indian rupees ($1.98 billion) in the July-September quarter, from 14.34 billion rupees a year earlier, boosted mainly by the transfer of nearly $1.8 billion from policy holders' fund to shareholders' fund.

($1 = 80.8000 Indian rupees)