I-Sec maintains Buy on LIC, target price Rs 1,040 Jobbery Stock Market update

ICICI Securities maintains a Buy call on Life Insurance Corporation of India (LIC) with a target price of Rs 1,040, citing valuations based on FY27E EV. The brokerage anticipates growth in APE and VNB margin, expecting a core RoEV of approximately 10.4% for FY26E/27E. LIC’s embedded value shows sensitivity to equity levels and reference rates.

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