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Motilal Oswal Report
Life Insurance Corporation reported a strong set of Q1 FY27 numbers, prompting Motilal Oswal Financial Services to reiterate its 'Buy' rating on the stock with a revised target price of Rs 480, implying a potential upside of about 24% from current levels.
The brokerage cited robust margin expansion, improving product mix and sustained growth in higher-margin non-par products as key reasons for its positive stance.
According to the brokerage, LIC's net premium income rose 7% YoY to Rs 1.27 trillion in the June quarter. Renewal premium increased 3% to Rs 61,800 billion, while single premium grew 9% to Rs 56,400 billion. First-year premium registered a stronger 22% growth to Rs 9,200 billion. New business APE climbed 8% YoY to Rs 13,700 crore.
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