India’s largest insurance company, Life Insurance Corporation of India (LIC), has regained a market capitalization of INR 5 lakh crore. LIC reached this figure in June 2022. LIC’s shares were listed in May 2022, but within three weeks, due to a sharp decline in share prices, the market value fell below INR 5 lakh crore. LIC is now the country’s largest public sector company in terms of market value. On Thursday, December 7, LIC’s shares rose by 7% to reach a high of INR 800 after 52 weeks. On Friday, there is also an upward trend in the shares. On Wednesday, the shares saw a 5% increase, and on Monday, there was a 7.2% increase.
Despite the increase in share prices, LIC’s shares are still 16% below the IPO price of INR 949. Since being listed, the shares have not been able to regain their IPO price. There have been some negative news about LIC despite the increase in premium collection. In November, the company recorded a 33% decline in premium collection. The individual annual premium is 9% lower compared to the same period last year. In the first quarter of the current financial year, LIC’s new business premium reached INR 25,184 crore, which is 2.7% higher than the same quarter last year. In the financial year 2023, there was a 6.9% increase in premium for new business. LIC’s strong nodal agency network holds a 49% market share. The company’s new business premium contribution is 96% in the financial year 2024.
Experts’ Opinion on Shares:
Since the listing of the IPO, there has been a sharp decline in LIC’s shares. However, there are indications that the share price will increase in the future. Out of 19 experts who keep an eye on LIC, 15 have advised buying shares, three have advised holding, and one has advised selling.
LIC Share Price 10 December 2023:
1. LIC, India’s largest insurance company, has regained a market value of 5 lakh crore rupees.
2. LIC’s share price reached this figure in June 2022.
3. The shares of LIC were listed in May 2022, but the market value fell below 5 lakh crore rupees within three weeks due to a sharp decline.
4. LIC is now the country’s largest public sector company in terms of market value, reaching a high of 800 rupees per share on Thursday, December 7th, with a 7% increase.
5. The shares are still 16% below their IPO price of 949 rupees.
6. Despite the premium collection, there have been some negative news about LIC, with a 33% decline in premium collection in November.
7. However, in the first quarter of the current financial year, LIC’s new business premium reached 25,184 crore rupees, a 2.7% increase compared to the same quarter last year.
8. Experts have suggested buying LIC shares, with 15 out of 19 experts recommending it, while three suggest holding and one suggests selling.
People Can Find This Information Useful for: LIC, share price, market value, company, Bharatiya Jeevan Bima Nigam, LIC share, IPO, premium collection, negative news, experts, hold, buy, sell.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
