LIC share has started to show its strength, buy or sell this stock?

New Delhi. Shares of Life Insurance Corporation of India fell for a long time after the listing, jolting investors who had invested in LICIPO. But now this insurance stock is increasing for almost 3 months. The share has now surpassed its IPO price. Even today i.e. on Thursday, LIC shares have increased tremendously. Today the share touched its all-time high of Rs 1145 intraday. At 1:15 pm, it was trading at Rs 1109.20, up 6.20 percent. The steep rise in LIC shares started from November last year and has continued till now.

Market experts say that LIC’s quarterly results may come today. The results are expected to be positive. For this reason, LIC shares are seeing a lot of action today. Today the share opened with a gain of Rs 1073.90 and crossed the Rs 1100 level at the opening. LIC was listed on the stock market in May 2022. On 17 May 2022, LIC shares traded at ₹ 875.25 against the IPO price of ₹ 949. After the listing, the share fell and once it went as high as Rs 530.

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Why did you wake up today?
Siddharth Khemka, head of retail research at Motilal Oswal, says the insurance company will announce the results on Thursday, according to a report in LiveMinute. New business premium growth is expected to be good. This prospect has kept investors excited. Avinash Gorakshkar, Research Head, Profitmart Securities, says the market is expecting excellent quarterly results from LI. LIC shares also rose as Prime Minister Narendra Modi hinted at a likely pick-up in business for all PSUs.

How far will the part go?
Choice Broking’s Sumit Bugadia expects LIC shares to rise further. He says that LIC shares look positive on the chart pattern. Those holding this share should hold it with a stop loss of Rs 1020. This share can go up to Rs 1150 in short term. Sumit Bagadia has also suggested adding this stock to his portfolio in the fall. Fresh investors can buy LIC shares with a target price of Rs 1150, he says.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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