LIC shares on Friday rallied 7.2% to hit a fresh 52-week high of Rs 820 on BSE after the Finance Ministry granted an extension to the PSU insurer for complying with 25% minimum public shareholding (MPS) norms till 2032. Sebi rules mandate all listed companies to maintain 25% public float but newly-listed companies are granted … Read more
Notwithstanding the 10% upside seen in shares of Life Insurance Corporation of India (LIC) last week, broking firm Emkay Global has increased its target price on the PSU insurance stock to Rs 850 from Rs 760 earlier. “Even after the recent upmove in LIC shares, we maintain our stance that valuation remains attractive and prices-in … Read more
After Life Insurance Corporation of India (LIC) posted a standalone net profit of Rs 13,428 crore in Q4 FY23 on Wednesday, a number of top brokerages retained their bullish views on the stock. While Motilal Oswal maintained a ‘Buy’ rating on the stock, Emkay recommended a ‘Hold’. Meanwhile, Axis Capital and JM Financial also maintained … Read more
Life Insurance Corp of India () is planning to transfer nearly $22 billion from policy holders’ funds into a fund earmarked to pay dividends or issue bonus shares, two sources said on Friday, as the country’s largest insurer aims to shore up both its own net worth and investor confidence. The state-owned insurer listed on … Read more