Let us tell you that the brokerage has kept its buy rating on LIC shares and has given a target price of ₹ 830. This means that the stock can go up to this price. Presently the share price is Rs. is at 682.15.
LIC shares will yield up to Rs 150, says brokerage – Buy
Investors betting on Life Insurance Corporation of India (LIC) IPO are still waiting for profits. The share price is still below the issue price. Meanwhile, brokerage firm Motilal Oswal has given a new target price for the stock.
LIC IPO News
What is the target price – LIC share price
The brokerage has maintained its buy rating on LIC shares and has set a target price of ₹830. This means that the stock can go up to this price. Presently the share price is Rs. is at 682.15. To put this in perspective, the brokerage on shares of Rs. Expect a profit of up to 150.
Good June quarter results
Let us tell you that LIC has registered a manifold jump in its June quarter net profit. In the year-ago period, Rs. 2.9 crore as against Rs. 682.9 crore has made a profit. LIC has registered an increase of 20% in the net premium.
The premium during the quarter stood at ₹ 7,429 crore as against ₹ 5,088 crore in the same period last year. As per the brokerage, we expect the insurance company to continue on the growth trajectory.