LIC Share Price; Good news for investors; LIC share will give huge returns, know what experts say
Happy new year for investors! Sugar stock to go to Rs 120; Will you buy?
At the same time, the Sensex index jumped only 0.16 percent. Talking about LIC alone, investors who have invested in the life insurance corporation’s IPO are yet to reap the profits, but their wait may end soon, according to market experts. Market experts have estimated that LIC share can reach Rs.1000. This target price led to buying in the shares today and LIC shares rose by around two and a half percent.
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LIC Target Price
Domestic brokerage firm, Kotak Institutional Equities initiated coverage on LIC and gave it a Buy rating. After this rating by the brokerage firm, buying of LIC shares accelerated and today rose by around 2.5 per cent to Rs 727.15. According to the brokerage firm, its fair value is Rs. 1000, which is about 38 percent higher than the current price.
Money is money! Investors became rich, adding Rs 16.36 lakh crore to their wealth during the year
Why believe in the boom in LIC?
LIC, the largest insurance company, has been facing tough competition from private players but has again increased its share in personal annual premium equivalent to 37 per cent in FY22. LIC’s biggest plus point is its agents. In FY 2022, 96 percent of individual new business premiums (NBPs) were received by agents. On the other hand, other listed insurance companies depend mostly on banks for new insurance premium i.e. 44-65 percent for NBP.
According to a report released by the brokerage firm on January 3, the biggest negative point in competition for LIC is that other private players have a more diversified product mix and sourcing. Apart from this, another risk is related to fall in the equity market, which may affect the enterprise value of LIC.
