The market capitalization of Life Insurance Corporation (LIC) has reached 5 lakh crore rupees. After June 2022, LIC has once again surpassed the market value of 5 lakh crore rupees. The shares of LIC faced a significant decline after their listing on the stock exchange in May 2022, resulting in a substantial decrease in the market capitalization of the company. However, LIC has now regained its position as India’s largest government company in terms of market capitalization. On Friday, December 8, 2023, LIC shares closed at 772.80 rupees with a decline of 1.61%. During Thursday’s trading session, LIC shares were trading at 800 rupees with a 7% increase. In Wednesday’s trading session, there was a 5% increase, and in Monday’s trading session, there was a 7.2% increase in LIC shares. Since November 2023, LIC shares have provided a return of 32% to its investors. Currently, LIC shares are trading 16% below their IPO price of 949 rupees. The IPO price has not been reached since the listing of LIC shares. In November 2023, the company also recorded a 33% decline in premium collections. The company announced that its individual annual premiums would be 9% lower compared to the previous year. Kotak Institutional Equities, a brokerage firm, stated in a report that the recent “Jeevan Utsav” scheme has contributed to the increase in LIC share prices. The company has a strong marketing agency and is capable of selling non-equivalent policies. The report recommended buying LIC shares. According to experts, the share price of the company may touch 1,040 rupees in the coming days. In the first half of the 2023-24 financial year, LIC’s new business premium reached 25,184 crore rupees, a 2.7% increase from the previous year’s 24,535 crore rupees. The new business premium of LIC has increased by 6.9% in the 2023 financial year. LIC has acquired a 49% stake in the new insurance sector. It is estimated that the new business premium contribution of the company will increase by 96% in 2024. Out of 19 experts who track LIC shares, 15 are positive about buying LIC shares. Three experts have recommended holding LIC shares, while one expert has advised selling the stock immediately.
LIC Share Price as of 9 December 2023:
1. LIC’s market capitalization has reached up to 5 lakh crore rupees.
2. After June 2022, LIC has once again crossed the market value of 5 lakh crore rupees.
3. LIC shares were listed on the stock exchange in May 2022.
4. After listing, LIC shares experienced a significant decline, and the company’s market capitalization suffered a significant decrease.
5. Now, LIC has achieved the distinction of being India’s largest government company in terms of market capitalization.
6. On Friday, 8 December 2023, LIC’s share closed at 772.80 rupees, with a decline of 1.61%.
7. On Thursday’s trading session, LIC’s share was trading at 800 rupees with a growth of 7%.
8. On Wednesday’s trading session, LIC’s share was trading at 5% growth, and on Monday’s trading session, it was trading at 7.2% growth.
9. Since November 2023, LIC shares have given a return of 32% to its investors.
10. LIC shares are still trading 16% below their IPO price of 949 rupees.
11. After the listing of LIC shares, they have not reached their IPO price.
12. In November 2023, there was also a 33% decline in LIC’s premium collections.
13. The company’s individual annual premium was reported to be 9% lower compared to the previous year’s same period.
14. Broking firm Kotak Institutional Equities mentioned in a report that LIC’s shares are witnessing growth due to the recently launched “Jeevan Utsav” plan.
15. LIC has a strong marketing agency and is capable of selling non-equivalent policies.
16. Kotak Institutional Equities firm has recommended buying LIC shares in their report.
17. According to experts, in the coming days, the company’s shares can touch the price of 1,040 rupees.
18. In the first half of the financial year 2023-24, LIC’s new business premium reached 25,184 crore rupees, which was 24,535 crore rupees a year ago.
19. LIC’s new business premium has increased by 6.9% in the financial year 2023.
20. LIC has acquired a 49% stake in the new insurance sector.
21. It is estimated that there will be a 96% increase in the company’s new business premium contribution in 2024.
22. Out of 19 experts monitoring LIC shares, 15 are positive about buying LIC shares.
23. Three experts have recommended holding LIC shares, while one expert has advised selling the stock immediately.
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