New Delhi: The Life Insurance Corporation of India (LIC) inventory value have seen good surge up to now couple of months, with the corporate’s shares crossing retail IPO value of Rs 904 for the primary time right now (Wednesday, January 17)
LIC shares have hit intraday excessive of Rs 919.45 (52-week excessive Rs 919.45) on BSE, rising 73.41 % from 52-week low of 530.20. Shares of LIC have risen 12.85 % within the final one month and 28.17 within the final one yr.
The value vary for LIC`s challenge was set between 902 and 949 rupees per share. LIC provided a reduction to staff and retail buyers of 45 rupees per share, whereas policyholders got a reduction of 60 rupees per share.
LIC shares had listed at 867 on BSE on May 17, 2022, falling almost 8 % on its market debut, regardless of the nation`s largest ever IPO being oversubscribed on the prime of the value vary.
The insurance coverage behemoth has touched 5.71 trillion market capitalisation. Analysts consider that the sturdy market capitalisation was witnessed on the again of LIC’s Jeevan Utsav plan which is an Individual, Savings, Whole Life Insurance plan with Guaranteed Additions all through Premium Paying Term.
Gaurav Goel, Founder – Director, Fynocrat Technologies advised Zee News, “The Life Insurance Corporation of India has regained its status as the most valuable publicly listed state-owned enterprise, surpassing the market capitalization of the State Bank of India. In 2023, LIC stock price experienced a growth of more than 22%, and as of 2024, it has already seen a 7.5% increase. The stock is in an overall Bullish trend and the rise in the stock price can be attributed to the overall rally in the stocks of the different PSU sectors and due to good fundamentals and compelling valuations compared to its peers.”
“Also, the government-backed insurance company has announced its intention to introduce three to four new products in the upcoming months to achieve double-digit growth in new business premiums for the current fiscal year. Chairman Siddhartha Mohanty’s recent interview stating this has conveyed confidence in attaining this target, attributing it to a rise in individual retail business,” Goel added.
Source: zeenews.india.com
