The country’s largest insurance company is Life Insurance Corporation(NSE: LICI). It is a Government of India company.
The government brought its IPO (LIC IPO) in May 2022. At that time, the government had fixed the price band of a share of Rs 10 from Rs 902 to Rs 949.
Its price was fixed at the upper price band i.e. Rs 949. But when it was listed on BSE on 17 May 2022, it was at a loss of 8.62 percent.
It was listed as Rs 867.20 and it was listed on NSE at 872 rupees. Its stock touched a low of Rs 530.20 on 29 March 2023.
After 16 months, on last trading day this stock more than doubled and closed at Rs 1108.
109 Percent Rise In 16 Months
LIC’s share was at Rs 530 on 29 March. Last date it is at Rs 1108. Meaning that in just 16 months it has given investors a return of more than 109 percent.
That is, those who would have invested one lakh rupees in this stock on March 29, that amount has become more than two lakh rupees today.
78 Percent Return In A Year
Its stock has seen a bumper 78 percent rise in the last year.
The reason for the rise in the stock is believed to be the trend of investors towards government shares and the performance of the company.
The share price of this company was Rs 620 on July 18, 2023. Today it closed at Rs 1108. Meaning a return of 78 percent in a year.
Performance Has Improved
LIC’s performance has been very good in the last year. In the fiscal period 2023-23, the income of the company was 8.46 lakh crore.
This was 7.84 lakh crore during the fiscal year 2022-23. In this time the profit of the business increased from Rs 35,997 crore up to 40,885 crore.
Talking about other shares of the insurance sector, HDFC Life Insurance has given a negative return of about two percent.
In the past year, the price of shares of HDFC Group’s life insurance business is down from 656 to 645.
SBI Life Insurance has reported a profit of 24 percent over the past year. The share price is currently 1628.
It was 1,314 on the 18th of July 2023. ICICI Prudential Life Insurance shares have yielded a profit of 12 percent over the past year.
The share price was at 642 on the 18th of August 2024, which was 574 on the 18th of July 2023.
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