Do you also own shares of LIC? Then there will be goods… Brokerages are also bullish on this stock
LIC Q2 Results: LIC’s Q2 results excellent, company’s premiums rise manifold
Analysts predict that Life Insurance Corporation of India (LIC) shares could return more than 30 percent from the current price. LIC shares have fallen more than 25 percent in the last 6 months, but according to market experts, the stock will now gain momentum. Motilal Oswal Financial Services has maintained a ‘Buy’ rating on the stock. The company is the largest in the country with over 67 percent market share in terms of market share. APE CAGR is estimated at 20 percent for the next financial year.
Share prices will increase by 30 percent
The target price of LIC stock is Rs.870. After the market closed on November 15, the share price was Rs 653.80. The stock has fallen by 25.30 percent in the last 6 months.
According to the report, the company launched three new products in the first half of FY23. These include LIC Bima Ratna, LIC Dhan Sancha and LIC Pension Plus. Also, LIC posted a profit of Rs 15,952 crore in the July-September period, as against Rs 1,434 crore in the year-ago quarter. Also the total premium income has also increased to Rs 1,32,631.72 crore.
Investors have a great day!
During early trade on Monday, shares of LIC were trading up 6.66 per cent at Rs 669 per share on the BSE. At the same time, the company’s shares rose 6.45 percent to Rs 668.20 on the National Stock Exchange’s Nifty.
Shares of the company have gained 8.58 percent on the NSE in the past one month. However, despite this rally, the shares of the company are still well below the listing price. Note that LIC shares were listed on the National Stock Exchange at Rs 872. So the issue price of the company was Rs.949.
Shares will go beyond 900 rupees!
According to brokerage firm ICICI Securities, additional distribution of policies has led to an increase in new business. This makes LIC a better investment proposition than Indian Life Insurance. This is why brokerage houses are bullish on this stock. ICICI Securities has maintained ‘Buy’ rating on LIC shares with a target price of Rs 917.
(Note: Here is information about stock performance only, and not investment advice. Investing in stock market is subject to risk and consult your advisor before investing.)