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Shares of Life Insurance Corporation of India (LIC) rose as much as 9.1 per cent on Monday, their best intra-day percentage gain since listing in May, after the country's largest insurer reported a surge in quarterly profit on Friday.
LIC's profit after tax surged to ₹15,952 crore in the July-September quarter, from ₹1,434 crore a year earlier, boosted mainly by the transfer of nearly $1.8 billion from policy holders' fund to shareholders' fund.
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