Tag: lic share price today

LIC inventory tanks over 25% from difficulty value, traders lose round Rs 1.51 lakh crore publish itemizing

The shares of life insurance coverage sector behemoth Life Insurance Corporation of India (LIC) continued its bear momentum for the ninth successive session and fell to a recent all-time low in the course of the intraday commerce Friday.

The LIC inventory hit a recent document low of Rs 708.05 on the NSE and Rs 708.80 on the BSE within the intraday session on Friday. Following its consecutive declines over the previous 9 periods, the script has now fallen over 25 per cent from its difficulty value of Rs 949 apiece. Eventually, it ended at Rs 709.70, down 1.70 per cent from its earlier shut on the BSE and at Rs 710.20, down 1.59 per cent on the NSE.

The firm’s market capitalisation has fallen from Rs 6 lakh crore to Rs 4.49 lakh crore (Rs 4,48,885.09 crore) on the finish of commerce on Friday, information on the BSE confirmed. This implies that LIC shareholders have misplaced over Rs 1.51 lakh crore in lower than a month of its itemizing.

Best of Express PremiumPremiumPremiumPremiumPremium

LIC obtained listed on May 17 on the inventory exchanges, making a lacklustre debut on Dalal Street. It listed at over an 8 per cent low cost from its difficulty value regardless of a profitable Rs 21,000 crore preliminary public providing (IPO) which obtained subscribed 2.95 occasions.

Speaking on the autumn in LIC inventory, Ravi Singh, vice chairman and head of analysis at Share India Securities instructed indianexpress.com that he anticipates the inventory to fall additional as much as Rs 650 apiece degree. He advises traders to exit their earlier positions and await the turnaround of the feelings.

“The high-risk appetite investors may hold their positions. It is expected that in the long run, the business metrics of LIC will improve steadily. Investment done at lower levels will deliver good returns in long term,” Singh stated.

Vishal Wagh, head of analysis at Bonanza Portfolio defined that the insurance coverage big has been dealing with stiff competitors from personal gamers and has been slowly dropping market share. Speaking with indianexpress.com, Wagh stated that LIC’s premium costs are barely greater than the competitors which impacts consumer conduct.

He additional identified the low penetration throughout the nation and stated that whereas there may be immense potential for development and LIC does have an even bigger market share, its on-line presence throughout insurance coverage aggregators wants to extend considerably to compete with the personal gamers.

Speaking concerning the inventory, Wagh stated that he believes LIC shares ought to backside out someplace between Rs 650-700 and keep rangebound for a while.

Santosh Meena, head of analysis at Swastika Investmart in a notice stated, “We believe India’s highly underserved life insurance market is still in its infancy and is well-positioned to capitalise on the enormous growth potential. The company has plans to address concerns like low VNB margins, loss in market share, high reliance on agency channel, etc. Additionally, the company’s issue was priced at a Price to Embedded Value of 1.1x, which was already at a discount compared to its global as well as Indian peers, and the current dip provides further valuation comfort. Another point we’d like to make is that investors should be aware that insurance is a long-term business; therefore wealth development and compounding occur only over time.”

June 10, 2022
LIC shares fall to a contemporary all-time low; skid over 20% from their difficulty value

Shares of insurance coverage sector big Life Insurance Corporation of India (LIC) continued their downward momentum and hit a contemporary all-time low on through the intraday commerce on Tuesday, hitting Rs 752.30 on the NSE and Rs 752.15 on the BSE through the late afternoon offers.

After slipping beneath the market capitalisation of Rs 5 lakh crore on Monday, the m-cap stood at Rs 4,76,904.83 crore at 3 pm Tuesday, in response to the BSE information.

Over 32.64 lakh shares of the insurance coverage big had been traded thus far on NSE whereas over 4.38 lakh shares exchanged fingers on the BSE, information from the respective exchanges confirmed.

Following its consecutive declines over the previous six classes, the scrip has now fallen over 20 per cent from its difficulty value.

Best of Express PremiumPremiumPremiumPremiumPremium

On May 17, LIC made its lacklustre debut on inventory exchanges, itemizing at over an 8 per cent low cost from its difficulty value of Rs 949 apiece after a profitable Rs 21,000 crore preliminary public providing (IPO) which obtained subscribed 2.95 occasions.

Speaking on the LIC inventory, Santosh Meena, head of analysis at Swastika Investmart famous, “The issue was priced at a price to the embedded value of 1.1x, which is a discount compared to its domestic as well as global peers. This valuation discounts concerns with the company like losing market share to private players, lower profitability & revenue growth compared to private players, lower VNB margins and short term persistency ratios. However, we believe India’s highly underserved life insurance market is still in its infancy and is well-positioned to capitalize on the enormous growth potential. LIC has a number of competitive advantages, including a strong brand value, a massive network of agents, and an enviable distribution network. So, investors with a long-term view can buy this stock at CMP and follow a buy on dip strategy.”

June 7, 2022
LIC to declare monetary outcomes for FY22 subsequent week, think about fee of dividend

The board of administrators of the state-owned Life Insurance Corporation of India (LIC) is scheduled to fulfill on the finish of this month to declare the monetary outcomes for the fiscal yr ended March 2022.

It is knowledgeable {that a} assembly of the Board of Directors of the Corporation is scheduled to be held on May 30, 2022, LIC mentioned in a regulatory submitting on Tuesday.

The insurance coverage behemoth, which was listed on the bourses earlier this month on May 17, mentioned the board will think about and approve the audited monetary outcomes (standalone and consolidated) for the quarter and yr ended March 31, 2022.

The assembly will even think about fee of dividend, if any, LIC mentioned.

The a lot sought-after IPO (preliminary public supply) of LIC made its debut at round 8 per cent lower than its situation value, in a uneven market situation primarily due to the geopolitical tensions arising out of the Russia-Ukraine struggle.

LIC shares had been listed 8.11 per cent low cost at Rs 872 per share on NSE on May 17, as in opposition to its situation value of Rs 949 per share.

The LIC scrip was buying and selling 1.12 per cent up at Rs 826 apiece on BSE.

May 26, 2022
Weak LIC debut resulting from unfavourable mkt situations: DIPAM

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Tuesday stated the weak itemizing debut of the nation’s largest insurer Life Insurance Corporation (LIC) on the bourses was resulting from unpredictable market situations.

Investors ought to maintain on to the inventory for long-term worth, he stated. “Nobody can predict the market. We have been saying that it should not be held for a particular day but for more than a day,” Pandey instructed reporters after the itemizing of shares.

Domestic inventory markets had plunged over 8 per cent since January this yr because of the Russia-Ukraine battle, US Fed price hike, rising inflation and FPI outflows.

Pandey stated there was some safety for retail traders and policyholders who received the shares at a reduced worth. On the IPO, he stated it was right-sized, contemplating the capital market setting, with the target of not crowding out the capital provide.

He stated the IPO obtained 73 lakh investor functions from all classes aside from anchor traders. It obtained 10.85 lakh functions from first-time traders, of which, greater than 7 lakh received allotment. As a lot as 46 per cent of the traders had been from the western a part of the nation, 44 per cent from north and south, 9 per cent from east and north-east noticed one per cent participation, he stated.

The IPO was the third largest IPO globally within the yr until date, he stated, including that the mixture IPO in Europe was lower than $3 billion throughout this yr until date.

LIC Chairman M R Kumar stated the response for the shares within the secondary market goes to be larger which can pull the costs up. “We were not expecting it to pick up as the markets were jittery… expect it to pick up. I am sure a lot of policyholders who had missed out in the IPO will pick up LIC from the market now. I don’t see why it should be tepid for too long,” Kumar stated on the itemizing day share worth motion.

Kumar stated the insurer has already launched a few non-participating and assure merchandise within the final quarter of FY22 and now it plans to aggressively promote these merchandise. The insurer may take a look at launching some new merchandise.

“We would like to push the plans that guarantee returns and give good profitability margins. Participatory products have always been our strength and we will work on that strength and also get into other segments,” he stated.

LIC’s market share is 63 per cent and expects it to settle on the identical degree. “We are not going to lose it any more. I think there is enough room for growth,” Kumar stated.

While LIC’s IPO had obtained good response from policyholders, overseas traders weren’t very enthusiastic in regards to the provide. “That has been due to global sentiment which has really tested Indian investors. The way to look at it is, without FPIs, could any other issue have managed this? We saw six times (subscription) from policyholders… that is huge,” Kumar stated.

Bids from overseas portfolio traders (FPIs) had been to the tune of Rs 2,291 crore in the primary e-book they usually additionally invested Rs 555 crore within the anchor e-book, Pandey stated.

On April 27, addressing the pre-launch media convention, Pandey defended the valuation, saying, “this is a fair and attractive valuation. Valuation is a discovery process. We want to champion LIC as a long-term value creator in the equity markets.”

LIC had provided a reduction of Rs 60 for policyholders and Rs 45 for retail traders and staff.

The authorities was earlier eager on launching the LIC IPO in March 2022 to satisfy its revised disinvestment goal for the present fiscal. The challenge measurement was delayed and lower from the sooner proposed Rs 65,000 crore after Russia attacked Ukraine and US Federal and overseas traders began pulling out funds within the wake of price hike plans of the US Federal Reserve market, sending monetary markets right into a tizzy.

May 17, 2022
LIC to record right this moment: GMP in unfavorable

Shares of Life Insurance Corporation (LIC) will probably be listed on the inventory exchanges on Tuesday amid worries concerning the market volatility and itemizing efficiency of the company.

Despite gloomy markets sentiments, the LIC supply received higher than anticipated subscriptions figures led by sturdy demand from retail policyholders, retail buyers and staff of the insurer. “Unofficial grey premium is trading down into the negative territory mainly on the back of depressed global markets which are in the bearish zone since Russia–Ukraine war,” stated Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

Moreover, promoting strain continued within the home markets as FPIs have remained web sellers within the monetary 12 months up to now with outflows of round Rs 70,000 crore. “Considering all the parameters, we expect soft listing between plus or minus 5 per cent of the offer price. Moreover, LIC offer was never considered as listing gain candidate rather it should be looked at only long term,” Tapse stated.

“Everything depends on market conditions… market discount indicates that the stock may be listed at a moderate to discounted price. However, we expect a listing with a 7 per cent discount to a 3 per cent premium,” stated Ravi Singhal, Vice Chairman, GCL securities Ltd.

“Given the market sentiments still alarming and volatile following the global headlines, LIC may also trade in muted mood… hence we advise allotted investors not to panic and hold it for medium to long term. Those who are planning to buy on a listing day should accumulate by taking volatility as opportunity,” stated an analyst.

The authorities has mounted the problem worth of LIC shares at Rs 949 per share, the higher finish of the IPO worth band.

LIC policyholders and retail buyers have gotten the shares at a worth of Rs 889 and Rs 904 per shares respectively. The IPO closed on May 9 and shares had been allotted to bidders on May 12. The authorities bought over 22.13 crore shares or 3.5 per cent stake in LIC by the IPO at a worth band of Rs 902-949 a share.

The retail buyers and eligible staff of LIC had been supplied a reduction of Rs 45 per fairness share over the problem worth, whereas policyholders received a reduction of Rs 60 per share.

The share sale fetched the federal government round Rs 20,557 crore. The supply which closed with almost 3 occasions subscription, was predominately lapped up by retail and institutional consumers, however international investor participation remained muted.

LIC had final month diminished its IPO measurement to three.5 per cent from 5 per cent determined earlier as a result of prevailing uneven market circumstances. Even after the diminished measurement of over Rs 20,557 crore, LIC IPO is the largest IPO ever within the nation.

May 16, 2022
LIC share itemizing Live Updates: LIC to debut in inventory markets on Tuesday

The authorities bought over 22.13 crore shares or a 3.5 per cent stake in LIC by means of the IPO. The value band of the problem was Rs 902-949 a share. However, shares had been allotted to traders on May 12 on the higher finish of the worth band.

The LIC IPO – India’s largest up to now – closed with 2.95 occasions subscription, predominately led by by retail and institutional consumers, however international investor participation remained muted.

Before heading into the IPO, the life insurance coverage big had raised over Rs 5,627 crore from the anchor traders.

May 16, 2022