Share Market: Shares of these companies including LIC rose, Sensex and Nifty are doing business with a boom
LIC Q1 Results: Many companies are announcing their quarterly results. Life Insurance Corporation of India (LIC) announced the quarterly result on the last day. The net profit of the company has increased manifold this quarter. After the results, the company's shares are trading with a boom. Today, both the indices of the stock market opened seven down.
Life Insurance Corporation of India (LIC) announced its quarterly results yesterday. Today, as soon as the market opens, the shares of the company are trading fast. While the company's shares closed down yesterday at the time of closing the market. The company has earned manifold net profit in this quarter. The net profit of the company has gone up to Rs 9,544 crore.
Shares of the company are up nearly 6 percent in the market today. The company's stock has seen a boom on both indices of the stock market. The company's stock is trading at Rs 676.95 per share, up 5.42 percent, on the BSE. At the same time, the shares of the company are trading at a speed of 5.81 percent on the NSE. The company's shares are trading at Rs 679 per share on the NSE.
LIC company announced the April-June quarter results of the current financial year 2023-24 yesterday. This quarter the company's net profit has gone up to Rs 9,544 crore. At the same time, the net profit of the company was Rs 683 crore in the same period last year.
Net income rose to Rs 1,88,749 crore in the June quarter from Rs 1,68,881 crore in the year-ago period, LIC said in a regulatory filing on Thursday.
The company's net income from investments increased to Rs 90,309 crore during the quarter as compared to Rs 69,571 crore in the April-June period of 2022-23. The company's non-performing assets stood at 2.48 percent. It was 5.84 percent in the same period a year ago.
Shares of Supreme Industries, REC, and Ashok Leyland have gained today. The company announced on the previous day that it will be added to MSCI India Index along with five other companies.
Shares of Supreme Industries climbed 16.25 percent to hit a 52-week high of Rs 4,480 on the BSE. REC stock jumped 6.48 percent to hit a 52-week high of Rs 230.70. Ashok Leyland gained 2.55 percent to reach its one-year high of Rs 191.
Shares of HDFC Asset Management Company advanced 2.29 percent, Cummins India (2.23 percent), Power Finance Corporation (2 percent), IDFC First Bank (1.65 percent), and Astral Ltd (1.14 percent).
