LIC's shares jump nearly 6% after July-September quarter earnings

With a 10 per cent fall in equity markets, the embedded value of LIC declines by 7 per cent

Life Insurance Corporation’s (LIC’s) shares jumped 5.85 per cent on Monday following its July-September quarter (Q2FY23) earnings where it reported a multifold jump in net profit due to a change in its accounting policy, wherein it transferred Rs 14,271.80 crore to the shareholders’ account from the non-participatory account.

Shares of the insurance behemoth rallied 8.7 per cent to Rs 682.7 intraday on the BSE, finally ending at Rs 664.80 apiece. Similarly, the shares jumped 9.11 per cent to Rs 684.9 intraday on the NSE, and closed at Rs 664.2 apiece, up 5.81 per cent.

Net profit of the corporation in