LIC Share Price: Positive Impact on Wednesday
📈 LIC, the government-owned insurance company, has witnessed a positive impact on its share price on Wednesday. According to the new figures, LIC has increased its market share in the insurance sector by 12 points in December 2023.
💹 A 2% surge was observed in LIC’s share during Wednesday’s trading session. Over the past six months, LIC’s share has shown a remarkable recovery, providing investors with a 35% return.
📉 On Thursday, January 11, 2024, LIC’s share closed at ₹833.55, experiencing a slight decline of 0.60%. On Friday, January 12, 2024, the share was trading at ₹831, down by 0.41%.
📊 Market Share Growth: April ★December 2023
During the financial year 2023-24, LIC’s market share has increased between April and December 2023. Within this period, LIC recorded a growth rate of 3.7% in the insurance sector, which further increased to 12 basis points in December 2023.
📉 Decline in Market Share for Other Insurance Companies
In contrast to LIC and SBI Life, all other insurance companies have witnessed a decline in their market share during the financial year 2023-24. LIC’s premium has seen a substantial increase of 93.8% in December 2023. Additionally, LIC’s individual APE (Annual Premium Equivalent) has grown by 2%, and life insurance premium has witnessed a growth of 43.7%.
📈 Goldman Sachs Rates LIC Shares as ‘Neutral’
Global brokerage house Goldman Sachs has given a ‘neutral’ rating to LIC shares. Experts have set a target price of ₹750 for LIC shares.
💰 Profitable Investment for LIC Shareholders
Over the past six months, LIC shares have generated a profit of 34.35% for its shareholders. On January 9, 2024, LIC’s share closed at ₹832.45. During Wednesday’s trading session, the share was trading with a 2% increase.
With LIC’s positive growth in market share and profitability for investors, the future looks promising for the government-owned insurance company.
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.
