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Life insurance Historical case study · data as of 15 Jul 2026 · published 18 Oct 2026 (95 days later)

Life Insurance Corporation of India — 100-point case study

How Life Insurance Corporation of India looked on 50 technical and 50 fundamental measures on 15 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: LICI · BSE: 543526
Close on 15 Jul 2026	₹439.75
Market cap then	₹5,55,935 crore
Valuation	P/E 9.7× · P/B 3.15×
Momentum	RSI (14) 59 · 1-year return -4.9%
Next 3 months	-9.6% vs Nifty 50 -3.9% (to 16 Oct 2026)

Scorecard

Technical — 50 points

19 bullish · 24 neutral · 1 caution · 5 bearish — the picture leaned positive.

Fundamental — 50 points

8 bullish · 31 neutral · 6 caution · 4 bearish — the picture leaned positive.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: LIC issued 1:1 bonus shares (ex-date 29 May 2026). Prices before that date are shown bonus-adjusted (halved) by the data source, so the chart and returns are comparable across the bonus. LIC is a life insurer: Screener's standard layout does not capture insurance metrics such as embedded value, VNB margin or solvency ratio, so several manufacturing-style points are less meaningful here. The government sold part of its stake through an offer for sale in August 2026, after the snapshot.

Technical analysis — 50 points

Calculated by code from daily prices up to 15 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.09%/day	Neutral	Over the last 20 sessions the regression line of closing prices was rising about 0.09% a day — a flat, sideways phase. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return +9.4%	Neutral	The 100-session trend line was up (+0.05%/day) and the stock was +9.4% over three months, so the medium-term picture was neutral. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -4.9%	Neutral	Compared with a year earlier the price was -4.9%. Little net progress over twelve months. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 419.32 / 30W 413.07	Bullish	On the weekly chart the stock showed a weekly close above a rising 10-week and 30-week average stack. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 428.55→450.20; lows 391.55→425.40	Bullish	The two most recent swing points showed higher swing highs and higher swing lows — classic uptrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	27.1	Bullish	ADX at 27.1 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 24.7 / –DI 15.0	Bullish	+DI was above –DI: upward price pressure outweighed downward pressure. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	434.06 (+1.3%)	Bullish	Close of 439.75 was 1.3% above the 20-day SMA — the short-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	415.29 (+5.9%)	Bullish	Close of 439.75 was 5.9% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	423.40 (+3.9%)	Bullish	Close of 439.75 was 3.9% above the 200-day SMA — the long-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 436.43 / 21E 430.49	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 17 Jun 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bearish	The 50-day average was 1.9% below the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	+3.2% in 20 sessions	Bullish	The 50-day average rose 3.2% over the past month — rising. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	434 / 415 / 410 / 423	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	435.88 (+0.9%)	Bullish	Anchored to the start of July, the volume-weighted average price was 435.88; the close was above it — buyers that month were on average in profit. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	58.9	Bullish	RSI at 58.9 showed positive momentum without being overbought. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 6.86 / signal 7.01	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	-0.24 → -0.15	Bullish	The histogram rose over the last five sessions, meaning momentum was improving. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	6.86	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 68.0 / %D 70.0	Bearish	Slow stochastic at 68.0 was mid-range with %K below %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-28.3	Neutral	%R of -28.3 put the close in the middle of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	91	Neutral	CCI at 91 was within the normal ±100 band. Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	+1.2%	Neutral	Price changed +1.2% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.72 (bands 420.93–447.18)	Neutral	%B of 0.72 — inside the bands, upper half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 6.0% (9th pct of 6M)	Caution	Band width was at the 9th percentile of the last six months. A squeeze like this often precedes a larger move (direction unknown). How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹10.01 (2.3% of price)	Neutral	A typical day's range was about ₹10.01, or 2.3% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	23.2% vs 1Y 23.8%	Neutral	Annualised 30-day volatility was 23.2%, close to the one-year level of 23.8%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	410.94–451.02	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.11	Neutral	A beta of 1.11 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.88× / 5-day 0.65×	Neutral	The final session traded 0.88× its 20-day average volume and the last five sessions averaged 0.65× — lighter than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 1.48	Bullish	Average volume on up days was 1.48× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price rose — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.03	Neutral	CMF at -0.03 indicated roughly balanced money flow. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	57.5	Bullish	MFI, a volume-weighted RSI, was 57.5. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹195 cr/day	Neutral	About ₹195 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	422.36 / 395.45 / 379.55	Neutral	Nearest support (prior swing lows) sat at 422.36, 4.1% below the close, then 395.45, 379.55. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	457.84	Neutral	Nearest resistance (prior swing highs) sat at 457.84, 4.1% above the close. How to read: Information only.
40	Monthly pivot points (for next month)	P 437.52 \| R1 449.63 \| S1 427.63	Neutral	Classic pivots from July's high/low/close gave a pivot of 437.52; the close was above it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 383 \| 38.2% 396 \| 50.0% 407 \| 61.8% 418	Neutral	Measuring the 6-month fall from 454.00 to 360.75, the close was nearest the 61.8% retracement at 418.38. How to read: Information only.
42	52-week high / low	H 476.50 / L 360.75	Neutral	The close was 7.7% below the 52-week high and 21.9% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	2 open; latest gap-up 15 Jun at 399.80	Neutral	There were 2 unfilled gap(s). The latest, a gap-up on 15 Jun 2026, left an open level at 399.80 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	broad sideways range	Neutral	Rule-based pattern scan: broad sideways range. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 406.70–450.20	Neutral	The close was inside the prior 20-day range of 406.70–450.20. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Shooting-star-type candle	Bearish	On 15 Jul the candle opened 437.50, ranged 436.80–447.40 and closed 439.75: Shooting-star-type candle — sellers rejected higher prices. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 394.65–409.33; Tenkan 436.40 / Kijun 420.88	Bullish	Price was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M +7.5% / 3M +8.4%	Bullish	The stock outperformed the Nifty 50 by 8.4 points over three months and outperformed by 7.5 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +11.5%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 11.5 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	19 bullish · 5 bearish · 24 neutral · 1 caution	Bullish	Across the 49 readings the technical picture leaned positive. Levels that mattered: support 422.36, resistance 457.84. This is a description of the chart on 15 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 15 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 15 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	9.7×	Neutral	At ₹439.75 the market valued the company at about ₹5,55,935 crore, or 9.7× the ₹57,426 crore profit of the four quarters to Mar 2026. That is a low multiple in absolute terms. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	3.15×	Neutral	Market cap was 3.15× the Mar 2026 book value (equity + reserves) of ₹1,76,605 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	0.57×	Neutral	The company was valued at 0.57× its trailing-12-month sales of ₹9,78,893 crore. How to read: Information only.
4	EV / EBITDA (approx.)	12.8×	Neutral	Enterprise value (market cap + ₹0 cr borrowings; cash not netted) was 12.8× trailing operating profit of ₹43,554 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	10.3%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹10.3 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	0.57	Caution	P/E of 9.7 divided by 3-year profit growth of 16.9% a year gives a PEG of 0.57. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: the Mar 2026 quarter carried unusual other income of ₹3,166 crore — a one-off that distorts year-on-year profit comparisons. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	3.64%	Bullish	Dividends with ex-dates in the 12 months to the snapshot totalled ₹16 a share, a 3.64% yield on the ₹439.75 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹5,55,935 cr	Neutral	At about ₹5.56 lakh crore the company was a large-cap, among the largest listed companies in India. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹377.86 vs ₹439.75	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹377.86; the price was 16% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+9.9%	Neutral	Revenue for FY26 was ₹9,77,772 crore, +9.9% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+13.8%	Bullish	The Jan–Mar 2026 quarter brought ₹2,76,744 crore of revenue, +13.8% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+18.9%	Caution	FY26 net profit was ₹57,453 crore, +18.9% on FY25's ₹48,320 crore. Note: the Mar 2026 quarter carried unusual other income of ₹3,166 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+23.3%	Caution	Quarterly profit was ₹23,467 crore versus ₹19,039 crore a year earlier (+23.3%). Note: the Mar 2026 quarter carried unusual other income of ₹3,166 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	7.6%	Neutral	Revenue compounded at 7.6% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	16.9%	Caution	Net profit compounded at 16.9% a year from FY23 to FY26. Note: the Mar 2026 quarter carried unusual other income of ₹3,166 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	7.2%	Neutral	Over five years (FY21–FY26) revenue compounded at 7.2% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	+18.9%	Caution	Reported EPS went from ₹38.20 to ₹45.42 (+18.9%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Note: the Mar 2026 quarter carried unusual other income of ₹3,166 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	5%	Neutral	Operating profit (EBITDA) was 5% of sales in FY26 versus 6% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	5% → 4% → 5% → 4%	Neutral	Quarterly margins moved from 5% to 4% over the last four quarters — broadly stable. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	5.9%	Neutral	₹5.9 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	37.8%	Bullish	FY26 profit was 37.8% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	35%	Bullish	Return on capital employed (debt + equity) was 35% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	0.97%	Neutral	Net profit was 0.97% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	-7%	Neutral	The company paid about -7% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	10%	Neutral	Non-operating 'other income' of ₹5,421 crore made up 10% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.00	Bullish	Borrowings of ₹0 crore were 0.00× equity — very low leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	0.00×	Bullish	Debt equalled 0.00 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	n/m	Neutral	Interest cost negligible — coverage not meaningful. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+38.8%	Bullish	Shareholders' equity grew +38.8% from ₹1,27,226 crore to ₹1,76,605 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹419 cr (1% of fixed assets)	Neutral	Projects under construction (CWIP) were 1% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	45 days	Neutral	Working capital tied up equalled 45 days of sales (FY25: 38). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	0 days	Neutral	It took 0 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	0 (FY25 0)	Neutral	Customers took 0 days on average to pay, versus 0 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹-26,211 cr	Bearish	The business generated ₹-26,211 crore of operating cash in FY26 versus ₹-9,721 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	₹-27,181 cr	Bearish	After capital spending, free cash flow was ₹-27,181 crore. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	-0.46×	Caution	Operating cash flow was -0.46× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	-4.9%	Neutral	FY26 free cash flow was -4.9% of the snapshot market cap. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	₹-11,781 cr	Bearish	Free cash flow over FY24–FY26 added up to ₹-11,781 crore. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	₹970 cr	Neutral	Implied capital expenditure was about ₹970 crore, 0.1% of sales. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	11%	Neutral	The company paid out about 11% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	15% / 16% / 11%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹6,325 cr → ₹6,325 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	96.50% (+0.00 pts YoY)	Neutral	Promoters owned 96.50% at Mar 2026 versus 96.50% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	0.31% (+0.21 pts YoY)	Neutral	FIIs held 0.31% at Mar 2026, up from 0.10% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	1.27% (+0.00 pts YoY)	Neutral	Mutual funds, insurers and other DIIs held 1.27%, down from 1.27%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	21.1 lakh (-11.0% YoY)	Neutral	The shareholder count moved from 23.7 lakh to 21.1 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	4/8	Bearish	Passed: positive profit, ROA improved, asset turnover improved, no meaningful dilution (<3%). Failed: positive operating cash flow, CFO > net profit, leverage fell, operating margin improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	2 strength(s) · 2 weakness(es)	Neutral	Strengths: Company is almost debt free; Company has a good return on equity (ROE) track record: 3 Years ROE 45.6%. Weaknesses: The company has delivered a poor sales growth of 7.19% over past five years; Tax rate seems low. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	8 bullish · 4 bearish · 31 neutral · 6 caution	Bullish	On the numbers published by 15 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 9.7×, P/B 3.15×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 15 Apr 2026 – 15 Jul 2026 that an investor could have known on the snapshot date.

22 May 2026 LIC reports Q4 FY26 results, recommends Rs 10 dividend and 1:1 bonus — LIC reported Q4 FY26 net profit of Rs 23,467 crore, about 23% higher than a year earlier. It recommended a final dividend of Rs 10 per share and set May 29, 2026 as the record date for the 1:1 bonus issue. The stock rose about 2.5% in morning trade. source
25 May 2026 LIC shares extend gains after Q4; brokerages turn more positive — LIC shares rose about 4% intraday and roughly 5.7% over two sessions after the Q4 results. JM Financial kept its Buy rating and raised its target to Rs 960. HDFC Securities upgraded the stock to Buy. Report from Business Today. source
27 May 2026 Last trading day to qualify for LIC 1:1 bonus — Business Today reported that May 27 was the last day to buy LIC shares and qualify for the 1:1 bonus. Markets were shut on May 28, the record date was May 29, and the deemed allotment date was June 1, 2026. source
24 Jun 2026 LIC final dividend record date set for June 25 — The FY26 final dividend of Rs 10 per share (post-bonus) had June 25, 2026 as its ex-date and record date. Payment was expected within 30 days of approval at the AGM, which was scheduled for July 27, 2026. source
24 Jun 2026 LIC CFO Sunil Agrawal resigns — LIC told the exchanges that CFO Sunil Agrawal resigned on June 24, 2026. His resignation takes effect at close of business on July 14, 2026. No successor was named in the report. source

What happened next (15 Jul 2026 → 16 Oct 2026)

Price went from ₹439.75 to ₹397.75 by 16 Oct 2026 (-9.6%) while the Nifty 50 moved -3.9% — underperforming by 5.7 points.
Highest ₹447.60 on 17 Jul 2026; lowest ₹378.20 on 08 Oct 2026.
S1 422.36: broken on a closing basis on 23 Jul 2026.
S2 395.45: broken on a closing basis on 04 Aug 2026.
R1 457.84: not cleared on a closing basis.
200-day SMA: price was above it at the snapshot and crossed below on 23 Jul 2026.
Apr–Jun 2026 results (reported 06 Aug 2026): revenue ₹2,39,866 crore (+6.8% YoY), net profit ₹13,584 crore (+24.0% YoY), operating margin 6% vs 5% a year earlier (Screener consolidated figures).

Later news

04 Aug 2026 Government launches OFS of up to 6.5% stake in LIC at Rs 382 floor price — The government opened a two-day offer for sale: non-retail on August 4 and retail on August 5. The base size was 2.5% with a 4% green shoe. The floor price of Rs 382 was about a 10% discount. The government stake could fall from 96.5% to 90%. LIC shares fell about 8-9% that day. source
05 Aug 2026 LIC OFS opens for retail investors; green shoe exercised in full — The non-retail portion was oversubscribed 3.32 times, and the government exercised the full green shoe, taking the offer to 6.5%. The non-retail clearing price was Rs 383.10 against the Rs 382 floor. source
06 Aug 2026 LIC Q1 FY27 net profit up about 23% to Rs 13,492 crore — LIC reported Q1 FY27 consolidated net profit of Rs 13,492 crore after market hours. Net premium income rose about 6.7% to Rs 1.28 lakh crore. Value of new business rose 61% to Rs 3,136 crore, with a VNB margin of 22.9%. The solvency ratio was 2.42x. source
31 Aug 2026 LIC to launch two new individual plans; executive director retires — LIC said it would launch two non-participating, non-linked individual products on September 7, 2026: Bima Platinum, a savings plan, and Jeevan Raksha, a pure risk plan. Executive director Sesha Giridhar Kuppili retired on August 31, 2026. source
04 Sep 2026 RBI allows LIC to raise stake in ICICI Bank up to 9.99% — An RBI letter dated September 4, 2026 lets LIC acquire up to 9.99% of ICICI Bank. The approval is valid for one year. LIC held about 4.35% of the bank as of June 30, 2026. source

Educational summary. On 15 Jul 2026 the technical picture leaned positive and the fundamental picture leaned positive. Over the next three months the stock moved -9.6% against -3.9% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Life Insurance Corporation of India today.

Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 18 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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