The share price of Life Insurance Corporation of India (LIC) has seen a strong upward trend in the past two days, with an increase of over 12%. Investors are pleased with the surge in share value, as it marks a significant growth after a long period. The current price of LIC shares is Rs. 674, while the target price set by brokerage house Geojit Financial Services is Rs. 823. This suggests a potential return of up to 22% from the current value. Geojit Financial Services believes that LIC’s strong leadership, new product launches, improved distribution network, and digitization efforts are positive indicators for the company’s future growth.
LIC is also preparing to launch 3-4 new insurance products in the coming months. The company’s Chairman, Siddhartha Mohanty, has stated that their goal for the current financial year is to achieve a growth rate of 12.5%. The company has been witnessing good growth in its retail business, which makes achieving this target easier. However, since its listing, LIC shares have experienced a consistent decline. Despite the enthusiasm among investors during the IPO, with shares being purchased above the upper price range of Rs. 949, the share price has steadily fallen. In March of this year, the share price dropped to Rs. 534, but it has now recovered to Rs. 674. It is concerning that shareholders who purchased shares after the IPO are still at a loss. Furthermore, LIC shares have only provided a 5% return in the past year.
1. LIC share price has witnessed significant growth in the past two days, with an increase of more than 12%.
2. Investors are pleased with the rise in share prices, as it is a long-awaited surge in LIC shares.
3. Jiojit Financial, a domestic brokerage house, has given a target price of Rs 823 for LIC shares, while the current price stands at Rs 674, indicating a potential return of up to 22%.
4. LIC’s strong leadership, new product launches, improved distribution network, and digitization are seen as positive indicators for the company’s future growth.
5. LIC is preparing to launch 3-4 insurance products in the coming months to achieve its target growth rate for the current financial year.
6. Since its listing, LIC shares have experienced continuous decline in prices.
7. Investors showed enthusiasm during LIC’s IPO, buying shares with a price range above Rs 949.
8. However, since May 17, 2022, when LIC shares reached Rs 872, there has been a consistent decline in prices.
9. Despite the decline, the current share price of Rs 674 is higher than the March 2023 level of Rs 534.
10. Shareholders who purchased LIC shares after the IPO are still incurring losses, as the shares have only provided a 5% return in the past year.
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