Mumbai, July 18, 2024 – The shares of Life Insurance Corporation of India (Lic Share Price Today) have surged nearly 80% Over 12 Months. This remarkable growth has caught the attention of investors and market analysts alike. On July 18, 2023, LIC’s share price was Rs 620. As of today, it stands at Rs 1,109.151.
Strong Performance
LIC, India’s largest insurance company, has shown strong operational performance. The company’s revenue for the financial year 2023-24 was Rs 8.46 lakh crore, up from Rs 7.84 lakh crore in the previous year2. This increase in revenue has been a significant factor in the rise of its share price.
Profit Growth
The company’s profit also saw a substantial increase. In the financial year 2023-24, LIC’s profit was Rs 40,885 crore, compared to Rs 35,997 crore in the previous year2. This growth in profit has boosted investor confidence, leading to a surge in the share price.
Investment Strategy
LIC’s strategic investments have played a crucial role in its success. The company has invested heavily in India’s growth sectors, such as infrastructure. These investments have paid off, contributing to the rise in share price1.
Comparison with Rivals
While LIC has seen significant growth, its rivals have had mixed performances. HDFC Life Insurance has posted a negative return, with its share price dropping from Rs 666.55 to Rs 646.55 over the past year1. ICICI Prudential Life Insurance, on the other hand, delivered a modest return of 12 per cent, with its share price rising from Rs 582 to Rs 654.101. SBI Life Insurance performed well, with its shares rising from Rs 1,314 to Rs 1,621.20, delivering a 23 per cent return1.
Market Sentiment
Positive sentiment for Public Sector Undertaking (PSU) shares among investors has also contributed to LIC’s share price surge. Investors have shown increased interest in PSU shares, leading to higher demand and, consequently, higher prices2.
Future Outlook
Market analysts are optimistic about LIC’s future performance. The company’s strong financials and strategic investments are expected to continue driving growth. However, they also caution that market conditions can change, and investors should stay informed about any developments.