Know the reason for this rise in the stock of LIs
There are three main reasons for the rise in LIC’s stock. The first reason is that there have been reports that the company may offer bonus shares and huge dividends. Even the news had not calmed down that LIC has released excellent financial results in the second quarter. The company has made a net profit of Rs 15951 crore in the second quarter. At the same time, this profit was only Rs 1433 crore in the same quarter last year. At the same time, the asset under management with LIC has increased to Rs 42.93 lakh crore. It was Rs 39.50 lakh crore a year ago. In such a situation, investors are now expecting that the company can give big benefits in the form of bonus shares or dividends.
ICICI Securities gave a buy call
ICICI Securities had given buy advice on LIC even before its quarterly results came out. ICICI Securities had a buy recommendation with a target price of Rs 917 on LIC.
LIC’s stock is still causing loss due to listing
LIC’s share was listed in May this year. Since the listing, this stock is causing loss to the investors. In such a situation, investors will definitely feel some relief from the rise in the stock today.