Rs 4/Share Dividend In Q3, 73% Rally In 90-Days: Buy PSU LIC Shares For Target Price Of Rs 1270

Leading brokerage house Motilal Oswal appears upbeat on public sector undertaking Life Insurance Corporation of India (LIC) shares and has recommended buy call with target price of Rs 1270 apiece.

Current market price of LIC Shares on BSE is Rs 1066.65 apiece with intraday gain of 0.25% as on February 23, 2024.

If you buy Life Insurance Corporation of India shares now, you can fetch likely return of 19.06%. Life Insurance Corporation of India shares BSE offered investors return of 81% in last 1-year span.

Life Insurance Corporation of India Shares Performance & Return: The 52-week high price of Life Insurance Corporation of India stock on BSE is Rs 1175.00 apiece and 52-week low price is Rs 530.20 apiece, respectively. The company has a market capitalisation of Rs 6,74,655.88 crore. LIC shares BSE gained 2.62% in last 1-year, declined 1.31% in last 2-weeks, soared 73% in 3-months, and gained 62% in last 6-months.

Life Insurance Corporation of India Quarterly Results: The PSU on February 12, 2024 declared its results for the quarter ended December 2023 wherein it announced a jump of 49% in its standalone net profit to Rs 9,444 crore from Rs 6334 crore declared in the corresponding quarter of last year. Its net premium income for Q3 surged 5% year-on-year (YoY) to Rs 1.17 lakh crore as against Rs 1.11 lakh crore announced in the similar quarter of last year.

LIC Dividend: The state-owned company also declared an interim dividend of Rs 4 per share or 40% of the face value of Rs 10 each. Board of Directors of LIC fixed February 21, 2024 as the record date for payment of the interim dividend. “The said interim dividend will be paid within 30 days from the date of declaration,” the company said.