Good days will come for LIC investors! The stock is gaining momentum, you will be shocked to know the opinion of the brokerage
highlights
LIC’s stock has gained 5.91 per cent in the last five trading sessions.
LIC’s stock has jumped about 11 percent in a month.
Brokerage house Motilal Oswal has also given Buy rating to LIC.
New Delhi. LIC Share (LIC Share), which has been giving loss to investors since the listing, is now slowly gaining momentum. After the excellent results of the fourth quarter of the financial year 2023, now market experts have started seeing strength in this stock. Looking at the March quarter results, experts are bullish on LIC shares. Today i.e. on Friday also, the shares of LI have closed at the level of Rs 604 (LIC Share Price Today) with a slight rise. In the last one month, LIC’s stock has jumped by about 11 percent. However, it is still trading below its 52-week high.
The country’s largest insurance company’s share was found in the IPO at Rs 949 per share. LIC’s share was listed on BSE at Rs.865. Till now LIC’s share has given losses to the IPO investors. In the year 2023, this share has fallen by about 15 percent so far. At the same time, LIC’s share has registered a gain of 5.91 per cent in the last five trading sessions.
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Brokerage 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 that LIC shares can see further growth. Large consumer base, large agency network and people’s trust on it, are the factors that will bring further growth in LIC. JM Financial has fixed a target price of Rs 940 on LIC share.
Brokerage house Motilal Oswal has also given Buy rating to LIC. The brokerage believes that the annual growth of LIC will be 25 percent during 2023-25. The company has retained its leading position. Motilal Oswal has fixed a target price of Rs 830 on LIC share. Similarly, foreign brokerage firm Macquarie has fixed the target price of LIC’s stock at Rs 850 and Goldman Sox at Rs 690.
excellent quarterly results
LIC’s integrated net profit increased more than five times to Rs 13,191 crore in the fourth quarter of the last financial year 2022-23. The company had earned a net profit of Rs 2,409 crore in the same quarter of the previous financial year. Its total income declined to Rs 2,01,022 crore in the March quarter, from Rs 2,15,487 crore in the same quarter of the previous financial year.
(Disclaimer: The stocks mentioned here are based on the advice of the brokerage houses. If you want to invest in any of these, first consult a certified investment advisor. News18 is not responsible for your profit or loss of any kind. Will happen.)
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Tags: business news in hindi, Life Insurance Corporation of India (LIC), Money Making Tips, stock market, stock tips
FIRST PUBLISHED : May 26, 2023, 18:34 IST
