LICs margins surprises street; JM Financial sees strong H2, maintains Buy on stock with Rs 1,111 target

LIC stock edged higher after the insurer reported stronger-than-expected margins of 17.6% in 1H FY26, prompting JM Financial to reiterate its Buy rating with a Rs 1,111 target. Analysts expect margin resilience, product diversification, and potential GST tailwinds to drive a stronger second half.