February 18, 2024
Market Update: LIC Share Price and Market Cap
Stock Markets Finance Trading

Market Update: LIC Share Price and Market Cap

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.

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