Life Insurance Corporation of India is an Indian public sector undertaking having headquarters in Mumbai, Maharashtra, India. The company was established on September 1956 by the parliament of India. The act passed was the Life Insurance of India Act. Around 245 insurance companies as well as modern societies merged to form the state of Life Insurance Corporation of India.
At present, LIC has more than 290 million policyholders and total life funds generated in 2019 were Rs 28.3 trillion. More than 26 million claims were settled in the financial year 2018-19. In 2022, LIC was ranked 98th in the Fortune Global 500 list. The revenue reported in 2022 was Rs 775,283 crores (US$97 billion) and the net profit was Rs 4,415 crores (US$550 million).
The key people of LIC are MR Kumar, BC Patnaik, Smt. Ipe Mini, Siddharth Mohanty, and Rajkumar. The key products are Life Insurance, Health Insurance, mutual funds, and investment management.
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The current LIC share price is Rs 621. The stock was listed on the stock exchange in May 2022. Since its inception, its value has been falling and currently, the fall is 32%. The company also declared a dividend of Rs 1.50 on August 2022.
LIC share price will slowly gain momentum and rise in the next few years. The stock represented a gradual decline in June 2022, however, the prices are maintained at the same level. With the improvement in Sensex, there is a high chance that the stock price will increase.
LIC is the largest insurance company in the country which is why the share price will have strength in the future. The reason behind the decline in the values since inception is the downtrend of the world economy. LIC share prices have been consolidating for the last 4 to 5 months.
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The target for LIC share price in 2023 is Rs 860, 2024 is Rs 1250, 2025 is Rs 1500, and 2030 is Rs 2200.
Some of the factors support the growth of LIC share price are increasing awareness of people regarding the advantages of insurance policies, the only government insurance company in India, more than 2000 retail outlets, and more than 1500 offices in almost 90% of the Indian districts, strong distribution network, and diversified product portfolio makes them a leader in the market.
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1. What is LIC share price prediction?
LIC share price Prediction in 2023 is INR 860, 2024 is INR 1250, 2025 is INR 1500, and 2030 is INR 2200.
2. Is LIC good for investment?
Yes, LIC is good for investment but you have to access your risk and capital before making a final buying decision. You must consult your financial advisor for any investment-related decision.
3. What is the LIC share price expected in the next 5 years?
The price will range between INR 1500 to 2500
4. Can LIC share price increase?
The expectations are increasing in price as soon as the market recovers. However, based on past trends the company may observe more falls in the price.
Disclaimer: If you want to invest in the stock market, you should consult your financial advisor before making a buying decision. You should assess the risk and study the company’s details. We are not responsible for any loss.
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