LIC, HDFC Life, ICICI Lombard gain as GST exempts insurance
Insurance stocks rallied after the GST Council scrapped tax on life and health policies, which earlier attracted up to 18%. LIC, SBI Life, HDFC Life, and ICICI Lombard rose, while Niva Bupa jumped over 8%. Analysts said the move boosts affordability and makes savings products more competitive, with LIC, Axis Max Life, and HDFC Life set to benefit most.