LIC share can cross ₹ 1,000, and investors can earn huge profits, know what experts say?
Shares of Life Insurance Corporation of India can make investors huge profits in the new year. In the first two trading sessions of the year 2023, LIC’s stock has gained more than 5 percent.
Highlights
- The rally in LIC stock is likely to continue.
- Looking at the better business outlook, the brokerage firm has given a BUY rating on LIC.
- LIC share can go to Rs 1000 in a month.
New Delhi. Shares of Life Insurance Corporation of India, the country’s largest insurance company, can make investors huge profits in the new year. In the first two trading sessions of the year 2023, the share of LIC (LIC) has gained more than 5 percent and the stock is likely to continue to rise even further. Looking at the better business outlook, the brokerage firm has given a BUY rating on LIC.
According to domestic brokerage and research firm Kotak Institutional Equities, LIC started its coverage with a 37% APE market share in FY22. According to the brokerage firm, the company continues to dominate the Indian life insurance sector.
Significantly, due to negative secondary market sentiment, LIC shares opened at a discounted price. However, in the long term, this stock can make profits.
Know what market experts say
Market experts say that the share price of the company may increase in the coming days and investors may benefit. The brokerage firm is bullish on LIC shares and has advised buying them. In the coming days, the share price of the company may increase and investors may benefit. It is believed that the share of LIC can go up to Rs 1000 in a month.
According to Kotak Securities, the VNB (Value of New Business) of the company is continuously improving. At the same time, the margin is also getting better. The brokerage firm says that the company’s strategy is to continuously increase the bancassurance business. In the bank insurance model, the bank and the insurance company jointly sell insurance products. According to the brokerage firm, LIC is expected to retain around 37% market share in individual APEs in FY22 despite giving up shares to private peers. Its vast agency franchise remains the cornerstone of its success.
The company’s shares were listed on BSE at Rs 867.20 per share, a discount of Rs 81.80, ie a decline of 8.62%. At the same time, LIC’s shares were listed on NSE at a discount of Rs 77. The company’s shares were listed at Rs 872 on the NSE, down 8.11 percent. While its price band was fixed at Rs 949.
