While LIC surged over 2 percent following the media report, Star Health and Niva Bupa declined up to a percent on

LIC clarified that it is exploring various strategic opportunities, including in health insurance, but currently no material information requires disclosure regarding a potential 50% stake acquisition in ManipalCigna Health Insurance.

LIC shares jumped 3.95 per cent to hit a high of Rs 952.50 on BSE. The stock was later trading at Rs 931.55, still up 1.67 per cent.

LIC plans to buy half of ManipalCigna Health Insurance. The deal could be worth ₹4,000 crore. This move will let LIC enter the health insurance market. ManipalCigna is a joint venture between Manipal Group and Cigna Corporation.

The discussions, in their early stages, aim to help LIC diversify beyond life insurance and tap into the growing health insurance demand