LIC Share Price Climbs, Nears 52-Week High

LIC Share Price Climbs, Nears 52-Week High

VoM News Desk | December 7, 2023 | 02:38 PM IST | Breaking News | Follow on Google News

LIC Share Price Climbs, Nears 52-Week High

LIC Share Price Climbs, Nears 52-Week High

Life Insurance Corporation’s (LIC) shares have surged, reaching a new 52-week high of ₹791.90 during Thursday’s trading. Despite this, the share price remains below the IPO issue price of ₹949.

Analysts attribute the uptrend to a breakout at ₹698 per share and anticipate further gains due to expected robust Q3 and Q4 performance. Market experts predict short-term targets of ₹840 and a medium-term range of ₹940 to ₹950.

The strong performance is linked to LIC’s position as India’s largest insurer, coupled with the anticipation of improved quarterly figures in the insurance sector.

VoM News Desk

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