2024-07-18 17:47:18
Mumbai: The country’s largest insurance company is Life Insurance Corporation. 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. There it was listed at Rs 867.20 while on NSE at Rs 872. Its stock touched a low of Rs 530.20 on 29 March 2023. After 16 months, today this stock more than doubled and closed at Rs 1108.
109 percent growth in 16 months
LIC’s share was at Rs 530 on 29 March. Today it is at Rs 1108. This means that in just 16 months, it has given investors a return of more than 109 percent. This means that those who would have invested Rs 1 lakh in this share on 29 March, that amount has become more than Rs 2 lakh today. 78 percent return in a year
Its stock has seen a bumper rise of 78 percent in the last one 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 one year.
Performance has improved
LIC’s performance has been very good in the last one year. The company’s income in the financial year 2023-24 was Rs 8.46 lakh crore, which was Rs 7.84 lakh crore in the financial year 2022-23. During this period, the company’s profit increased from Rs 35,997 crore to Rs 40,885 crore. Talking about other stocks of the insurance sector, HDFC Life Insurance has given a negative return of about two percent. In the last one year, the share price of HDFC Group’s life insurance company has come down from Rs 656 to Rs 645. SBI Life Insurance has given a return of about 24 percent in the last one year. Its share price is Rs 1628, which was Rs 1,314 on July 18, 2023. ICICI Prudential Life Insurance shares have given a return of 12 percent in the last one year. Its share price was Rs 642 on July 18, 2024 as against Rs 574 on July 18, 2023.