highlights
LIC stock is up 5.91 percent over the past five trading sessions.
LIC stock is up about 11 percent in a month.
The brokerage house Motilal Oswal has also given LIC a “buy” rating.
New Delhi. LIC stock (LIC stock), which has been causing losses to investors since the listing, is now slowly gaining momentum. After the excellent results of the fourth quarter of fiscal 2023, market experts are now seeing strength in this stock. Looking ahead to the March quarter results, experts are bullish on LIC stock. Today, also on Friday, LI shares closed at the level of Rs 604 (LIC share price today) with a slight increase. Over the past month, LIC stock is up about 11 percent. However, it is still trading below its 52-week high.
The country’s largest insurance company’s stake was found at Rs.949 per share in the IPO. LIC’s stock was listed on the BSE at 865 rupees. So far, LIC stock has brought losses to IPO investors. In 2023, this proportion has fallen by around 15 percent so far. At the same time, LIC stock has gained 5.91 percent over the past five trading sessions.
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The mediation is visible
According to Business Today’s report, domestic brokerage houses JM Financial and Motilal Oswal have advised investors to invest in LIC shares. JM Financial says LIC stock has room for further growth. A large consumer base, a large agency network and people’s trust are the factors that will ensure further growth at LIC. JM Financial has set a price target of Rs.940 for LIC shares.
The brokerage house Motilal Oswal has also given LIC a “buy” rating. The brokerage firm projects that LIC’s annual growth will be 25 percent over the period 2023-25. The company has maintained its leading position. Motilal Oswal has set a price target of 830 rupees on LIC stock. Similarly, overseas brokerage firm Macquarie has set price targets for LIC shares at Rs850 and Goldman Sox at Rs690.
excellent quarterly results
LIC’s integrated net profit increased more than five-fold to Rs.13,191 crore in the fourth quarter of the latest fiscal year 2022-23. The company had a net profit of Rs.2,409 crore in the same quarter of the previous fiscal year. Total revenue decreased to Rs. 2,01,022 crore in the March quarter compared to Rs. 2,15,487 crore in the same quarter of the previous fiscal year.
(Disclaimer: The stocks mentioned here are based on advice from brokerage houses. If you are interested in investing in these stocks, please consult a certified investment adviser first. News18 is not responsible for your gain or loss of any kind. Will happen.)
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Keywords: Business news in Hindi, Life Insurance Corporation of India (LIC), Tips for making money, stock market, Stock Tips
FIRST RELEASED : May 26, 2023 6:34 PM IST
