LIC Stock Market Update: If you are a shareholder of LIC and you are thinking of selling it, then wait now. It is not us but experts are giving this opinion. Experts have given a new target for LIC stock. Know full details..
If you have bet on the IPO of the country’s largest insurance company Life Insurance Corporation of India (LIC). If you are thinking of selling it now, then postpone this decision and hold it. In fact, the stock price is still below the issue price. Meanwhile, brokerage Motilal Oswal has given a new target price for the stock.
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Given this target price
The brokerage has retained its buy rating on LIC shares and has given a target price of Rs 830. This means that the stock can go up to this price. At present, the stock price is at Rs 682.15. From this perspective, the brokerage is expecting a profit of up to Rs 150 on the stock.
Good June quarter results
Let us tell you that LIC has registered a manifold jump in its June quarter net profit. There has been a profit of Rs 682.9 crore as compared to Rs 2.9 crore in the year-ago period. LIC registered a 20% increase in the net premium.
The premium during the quarter came in at Rs 7,429 crore as against Rs 5,088 crore in the year-ago period. According to the brokerage, we expect the insurance company to continue on the path of growth.
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