{"id":89454,"date":"2023-02-10T14:35:00","date_gmt":"2023-02-10T09:05:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=89454"},"modified":"2023-02-10T14:26:57","modified_gmt":"2023-02-10T08:56:57","slug":"psu-stock-in-green-as-company-reports-3851-increase-in-net-profits-are-you-holding-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/psu-stock-in-green-as-company-reports-3851-increase-in-net-profits-are-you-holding-it\/","title":{"rendered":"PSU stock in green as company reports 3851% increase in net profits; Are you holding it?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1526500021\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Insurance behemoth Life Insurance Corporation of India\u2019s (LIC) shares rose 4.38% on Friday\u2019s early trades, in an otherwise weak market after the company reported a multifold rise in its net profit for the October-December quarter of 2022. Its shares reached an intraday high of \u20b9 640.00 apiece and were trading at \u20b9 622.55 apiece at 11:49 AM on Friday.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2380676300\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company\u2019s profit after tax and before extraordinary items for the October to December quarter of 2022 (Q3FY23) came in at \u20b9 8348.71 crores, indicating an increase of a whopping 3851.30% against \u20b9 211.29 crores reported in the corresponding quarter last year (Q3FY22).&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/LICI\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">LIC<\/a><\/strong> reported a net premium income of \u20b9 1,11,787.6 crores in the latest quarter, indicating an increase of 14.51% against \u20b9 97,620.34 crores in the corresponding quarter last year.\u00a0<\/p><p>According to a regulatory filing, its income from investments rose to \u20b9 84,889 crore from \u20b9 76,574.24 crores a year ago.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3915373778\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Its investments in the Adani Group have been under severe criticism. However, they are still in the green, even though the share price of the companies has nose-dived by almost 60% since January 25, 2023, after US-based short-seller Hindenburg Research made a litany of\u00a0allegations against the group. It said that the companies manage and manipulate share prices, run offshore shell companies for round-tripping and are lacking in corporate governance practices.\u00a0<\/p><p>\u201cThough our investor team has already sought clarifications from the Adanis, our top management could not contact them yet as we have been busy preparing the results. We are soon going to call them to meet us and explain. We want to understand what is happening in the market and in the group,\u201d said M R Kumar, Chairman, LIC.&nbsp;<\/p><p>LIC is India\u2019s largest institutional investor and the second-largest shareholder in most of the listed Adani group companies. It has a cumulative investment of \u20b9 36,474.78 crore as of January 27, which in percentage terms is 4.23 per cent of the total public holding in those companies. But for LIC\u2019s \u20b944.76 lakh crore investment asset under management, this is only 0.97 per cent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1025844948\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Insurance behemoth Life Insurance Corporation of India\u2019s (LIC) shares rose 4.38% on Friday\u2019s early trades, in an otherwise weak market after the company reported a multifold rise in its net profit for the October-December quarter of 2022. Its shares reached an intraday high of \u20b9 640.00 apiece and were trading at \u20b9 622.55 apiece at [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[6024,5464,5550,4609,4612,4615,6022,6023,6021,4608,948,936,3153,3157,2597],"class_list":["post-89454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-insurance-stock","tag-insurance-stocks-2023","tag-insurance-stocks-to-buy","tag-lic-investment-portfolio","tag-lic-portfolio-in-stock-market","tag-lic-portfolio-value","tag-lic-q3-results","tag-lic-q3-results-2023","tag-lic-share-price","tag-lic-stocks","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSU stock in green as company reports 3851% increase in net profits; Are you holding it? - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=89454\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSU stock in green as company reports 3851% increase in net profits; Are you holding it?\" \/>\n<meta property=\"og:description\" content=\"Insurance behemoth Life Insurance Corporation of India\u2019s (LIC) shares rose 4.38% on Friday\u2019s early trades, in an otherwise weak market after the company reported a multifold rise in its net profit for the October-December quarter of 2022. 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