October 8, 2022
By :Quick Insurance Guru
LIC Share Target Price: Shares of Life Insurance Corporation (LIC) ended nearly one and half per cent higher to Rs 629.20 per share on the BSE on Tuesday.
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The counter of the insurance behemoth has been trading at 31.6% discount from its 52-week high, while the scrip is trading lower by 33.7% on its IPO price.
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LIC shares traded at a 52-week high value of Rs 920 in May 2022 after weak listing on the exchanges.
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Shares of LIC were listed at a discount of nine per cent to Rs 867.20 per share on the BSE against its IPO price of Rs 949.
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Stock of the Insurance giant has been hitting 52-week low one after another and touched a new low of Rs 617 on 29th September recently.
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Even though the share has declined over 33% on its IPO prices and continues to trade with volatility, should you buy this insurance stock?
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Well, brokerage house Yes Securities sees over 35% upside in the counter from current levels.
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Initiating a coverage on the stock, the brokerage recommended a buy rating on LIC with a target price of Rs 850 per share.
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LIC Share Price : 624.50
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