{"id":340,"date":"2023-12-07T15:34:10","date_gmt":"2023-12-07T10:04:10","guid":{"rendered":"https:\/\/gift-nifty.info\/?p=340"},"modified":"2023-12-07T15:34:10","modified_gmt":"2023-12-07T10:04:10","slug":"lic-shares-at-52-weeks-high-can-they-surpass-its-issue-price","status":"publish","type":"post","link":"https:\/\/gift-nifty.info\/2023\/12\/07\/lic-shares-at-52-weeks-high-can-they-surpass-its-issue-price\/","title":{"rendered":"LIC Shares At 52 Weeks High! Can They Surpass Its Issue Price?"},"content":{"rendered":"\n<pre class=\"wp-block-verse\">The price of LIC shares increased today and by midday on Thursday, it had reached a fresh 52-week high of \u20b9791.90 per share. The LIC share price is still a long way from its \u20b9949 issue price, though.<\/pre>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" src=\"https:\/\/gift-nifty.info\/wp-content\/uploads\/2023\/12\/LIC-Shares-Hit-High-1-1024x583.jpg\" alt=\"LIC Shares Hit High\" class=\"wp-image-348\"\/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<p class=\"has-drop-cap\">Life Insurance Corporation&#8217;s (LIC) share price has been rising since it hit a lifetime low of \u20b9530.05 on the NSE on March 31, 2023. When LIC shares reached a low point at the close of FY23, Dalal Street bulls showed a great deal of interest in purchasing them. LIC stock appears to still have some traction, nevertheless.\u00a0<\/p>\n\n\n\n<p>Stock market experts claim that the price of LIC shares broke out at \u20b9698 per share and has since experienced a strong upward trend after holding over \u20b9700. They stated that because insurance companies record higher quarterly earnings in the second half of the financial year, the market is anticipating better Q3 and Q4 numbers from the insurance behemoth.&nbsp;<\/p>\n\n\n\n<p>Market analysts continued by saying that LIC shares are projected to rise strongly and reach levels of \u20b9840 per share shortly, while in the long term, they are anticipated to reach levels of \u20b9940 to \u20b9950 per share, which is the price at which the maximum price range of the LIC IPO was defined (\u20b9949).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">LIC IPO Details<\/h2>\n\n\n\n<p>In May 2022, Life Insurance Corporation of India made its initial public offering (IPO), with equity shares priced between \u20b9902 and \u20b9949. The public offering was priced at a discount, with each equity share trading for \u20b9867 on the BSE and \u20b9872 on the NSE. The suffering of the allottees did not, however, end here as the price of LIC&#8217;s shares continued to plummet, reaching a record low of \u20b9530.05 per share by the end of March 2023.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" src=\"https:\/\/gift-nifty.info\/wp-content\/uploads\/2023\/12\/LIC-IPO-details-1024x577.jpg\" alt=\"LIC IPO details\" class=\"wp-image-342\"\/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Insurance Business Is There To Back LIC<\/h2>\n\n\n\n<p>According to Saurabh Jain, Vice President of Research at SMC Global Securities, &#8220;LIC of India is the biggest insurer in India, and there is no doubt about the strength of LIC as a company.&#8221; This explains why the share price of LIC is on the rise.<\/p>\n\n\n\n<p>&nbsp;In general, the third and fourth quarters of a fiscal year see higher business volume for insurance companies as individuals purchase additional policies to reduce their income tax liability. Thus, the market anticipates that LIC will release stronger results in the second half of the current fiscal year. LIC shares are currently the subject of heavy making wagers by investors due to their discounted price.&#8221;<\/p>\n\n\n\n<p>In addition, LIC maintains a sizable equity portfolio. The market is anticipating some return on its investment in the current quarter, given that the <a href=\"https:\/\/sgx-nifty.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">stock market<\/a> has been reaching record highs for the past five days, according to Jain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Targets For LIC Shares Price<\/h2>\n\n\n\n<p>Anticipating additional growth in LIC shares, Senior Manager of Technical Research at Anand Rathi, Ganesh Dongre stated: &#8220;LIC shares have been in an uptrend since breaking out at \u20b9698 apiece levels. If the stock closes above \u20b9750 and reopens above \u20b9750 tomorrow, the current rise may continue. In that scenario, it is anticipated that the price of LIC shares will briefly reach \u20b9805 and \u20b9840.&#8221;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" src=\"https:\/\/gift-nifty.info\/wp-content\/uploads\/2023\/12\/LIC-Shares-Rising-1024x533.jpg\" alt=\"LIC Shares Target Price\" class=\"wp-image-343\"\/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<p>&#8220;On breaching \u20b9840 per share levels, we may expect the LIC share price to touch \u20b9940 to \u20b9950 levels in next two to three months,&#8221; the analyst said.<\/p>\n\n\n\n<p>&#8220;Those who have LIC shares in their stock portfolio, they are advised to maintain stop loss at \u20b9725 whereas fresh entry is allowed only when the stock opens above \u20b9750 on tomorrow,&#8221; Anand Rathi&#8217;s Ganesh Dongres suggested to both new and existing purchasers. For the aforementioned aims, one can purchase LIC shares if it opens above the \u20b9750 levels while keeping their stop loss at \u20b9725 per share.&#8221;<\/p>\n\n\n\n<p>Also Read: <a href=\"https:\/\/gift-nifty.info\/blog\/adani-stocks-crosses-12-lakh-crore-cap-as-nifty-hits-record-high\/\" target=\"_blank\" rel=\"noreferrer noopener\">Adani Stocks Crosses 12 Lakh Crore Cap<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of LIC shares increased today and by midday on Thursday, it had reached a fresh 52-week high of \u20b9791.90 per share. The LIC share price is still a long way from its \u20b9949 issue price, though. Life Insurance Corporation&#8217;s (LIC) share price has been rising since it hit a lifetime low of \u20b9530.05 &#8230; <a title=\"LIC Shares At 52 Weeks High! Can They Surpass Its Issue Price?\" class=\"read-more\" href=\"https:\/\/gift-nifty.info\/2023\/12\/07\/lic-shares-at-52-weeks-high-can-they-surpass-its-issue-price\/\" aria-label=\"Read more about LIC Shares At 52 Weeks High! Can They Surpass Its Issue Price?\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,18,19],"class_list":["post-340","post","type-post","status-publish","format-standard","hentry","category-blog","tag-lic-shares","tag-market-updates","tag-shares-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LIC Shares At 52 Weeks High! Can They Surpass Its Issue Price? - Gift Nifty Info<\/title>\n<meta name=\"description\" content=\"Breaking news! LIC shares soar to a 52-week high. Will they surpass their issue price? 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