The share price of the state-owned insurance company, Life Insurance Corporation (LIC), could see a surge once again, according to brokerage firm Geojit Financial Services. The firm suggests that the launch of a new product could lead to an increase in the company’s business growth. LIC’s shares have already shown a good recovery in the past month, rising by nearly 14%. Geojit Financial Services believes that LIC could witness a growth of around 21% to 22% from its current levels in the next 12 months, with a target price of Rs 823 per share. It is important to note that this perspective is based on a long-term investment view.
In addition, LIC recently introduced its new service called ‘Jeevan Utsav’, which promises guaranteed refunds. The company described it as a non-linked, non-participating, personal savings, and complete life insurance scheme. Geojit Financial Services also highlights that the launch of new products by LIC will contribute to the company’s growth. LIC is the leading insurance and investment company in the country, with assets under management worth Rs 47 lakh crore and investments in around 270 listed companies. However, due to a decline in single premium, LIC’s total premium income decreased by 18.7% to Rs 107,947 crore in the second quarter of the financial year 2024. Nevertheless, the value of new business increased by 10% in the first half of the financial year 2024, and the VNB margin remained stable at 14.6%.
LIC Share Price Information:
1. LIC, the largest government-owned insurance company in India, is expected to see a surge in its share price.
2. Jiyojit Financial Services, a brokerage firm, has recommended buying LIC shares for long-term investment.
3. The company’s business growth is expected to accelerate with the launch of a new product.
4. LIC shares have shown good recovery in the past month, with a jump of nearly 14%.
5. The brokerage firm believes that LIC will experience a growth of around 21% ★22% in the next 12 months.
6. The target price for LIC shares is set at Rs. 823.
7. Investors should consider a 12-month perspective for investing in LIC shares.
8. On November 30, 2023, the share price of LIC closed at Rs. 680, indicating a potential increase of around 21% from the current level.
9. LIC recently launched a new service called “Jeevan Utsav,” which guarantees refunds.
10. The new product launch by LIC is expected to boost the company’s growth.
11. LIC is India’s leading insurance and investment company, with assets under management of Rs. 47 lakh crore and investments in around 270 listed companies.
12. Due to a decrease in single premium, LIC’s total premium income for the second quarter of the financial year 2024 decreased by 18.7% to Rs. 107,947 crore.
13. However, the value of new business increased by 10% in the first half of the financial year 2024, while the VNB margin remained stable at 14.6%.
14. As of December 1, 2023, the LIC share price news is not explicitly mentioned in the given information.
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