Hi there, pals Once again, welcome to another fantastic post about the fun Tuesday experienced by LIC stockholders. LIC shares surpassed the ₹ 867.2 listing price for the first time. The price of LIC shares was ₹ 900 during trading. ascended to a daily peak.
Silver owned by shareholders
For the first time, LIC shares exceeded their issue price of ₹ 867, which was the best development for shareholders. There’s really nothing better than this for LIC shareholders. Regarding LIC’s performance, during Tuesday’s afternoon trading, the company’s shares surged 5.3% at a furious rate, reaching ₹ 900. In less than a month, LIC shares have increased by 11.5%. On the other hand, investors have made a 44 percent profit in just six months. November 2023 alone has seen a 12% increase in LIC shares. In contrast, it climbed by 22% in December.
Will it grow to be the largest business?
In the financial year 2024, the company anticipates double digit increase in new business premium, according to a recent statement by CMD Siddharth Mohan Singh. Additionally, the business is aiming to surpass State Bank of India in size by becoming the nation’s largest public sector enterprise. Is the LIC market currently valued at Rs 5.6 lakh crore? SBI’s market capitalization, however, is Rs 5.72 lakh crore. In this sense, the two companies’ market capitalizations differ by just Rs 12000 crore. It’s also important to remember that the government still owns 96% of LIC. In May 2022, the government sold a mere 3.5% of its shares in the nation’slargest insurance company.
The LIC IPO’s history?
Regarding LIC’s first public offering (IPO), its shares were offered for sale for ₹ 949, with the retail segment’s issue price being ₹ 904. In the IPO, LIC policy holders received a discount of ₹60 per share, while retail stockholders received a discount of ₹45 per share. The LIC insurance holders received its shares at a rate of ₹ 889 per share. After the IPO, however, its shares were never able to achieve these heights. In this case, LIC’s shares have surpassed the IPO price due to a significant increase in value.
What was stated by the brokerage house?
In a research published in December, brokerage Kotak Institutional Equities stated that the Jeevan Utsav policy of LIC is a primary factor contributing to the company’s share price increase. Kotak set a target price of ₹ 1040 for its shares and gave it a buy rating. Was. From this vantage point, LIC shares might still advance to ₹140 notwithstanding Tuesday’s increase.
The crucial point is that the government company stock has been consistently trending upward. The stock prices of numerous companies, ranging from infrastructure to defense and railroads, have skyrocketed recently, and investors have profited handsomely from them. LIC will be interesting to observe. Will LIC shares enter a new era of growth after surpassing the IPO price? Will LIC investors have the opportunity to make significant profits in 2024 or not?
Friends, the brokerage firm provided the investment advice provided here. We got this information from the internet. We advise against making any investments. Prior to making any financial plans, please review your financial advisor once.
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