Market Update: LIC Share Price and Market Cap

Market Update: LIC Share Price and Market Cap

VoM News Desk | January 17, 2024 | 11:53 AM IST | Breaking News | Follow on Google News

Market Update: LIC Share Price and Market Cap/Bloomberg

Market Update: LIC Share Price and Market Cap

• LIC’s Strong Performance: Life Insurance Corporation of India (LIC) witnessed a surge of more than 2% in its share price during morning trades on Wednesday. This boost helped LIC’s market capitalization surpass ₹5.8 Lakh Crore, reaching 52-week highs of ₹919.45 per share.
• Market Cap Comparison: With this milestone, LIC’s market cap exceeded that of State Bank of India (SBI), which was trading down 1% on the BSE with a market cap of around ₹5.62 Lakh Crore.
• Uptrend Since November: LIC’s share price has been on a significant uptrend since the beginning of November, posting gains of more than 50%.
• Post-Listing Performance: After facing downward pressure post-listing until March 2023, hitting an all-time low of ₹530, LIC experienced a turnaround. The stock gained 12.83% in November and a remarkable 22.66% in December 2023.
• January 2024 Performance: In January 2024, LIC’s stock continued its strong performance, registering more than a 10% gain. The current stock levels are approximately 4% away from its IPO price.
• Analyst Conviction: LIC has remained a conviction pick for many analysts. Centrum Broking highlighted in January that LIC is trading at a discount to its Embedded Value, providing significant value comfort. Despite its substantial size, LIC’s market share is still increasing.
• Regulatory Changes: Regulatory changes related to participating (PAR) and non-participating (non-PAR) business are expected to enhance LIC’s profitability in the long run. Analysts view the non-PAR segment as value-adding, and an increase in its share could improve LIC’s overall margins.
• Financial Performance: In the first half of FY24, LIC reported a net profit of ₹17,469 crore, compared to ₹16,635 crore in the same period a year ago. The new business premium (individual) for H1FY24 increased by 2.65% to ₹25,184 crore.

LIC’s stock performance and market cap reflect a positive sentiment among investors, supported by robust financials and strategic positioning in the insurance sector.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.