LIC share price target: What lies ahead for LIC shares? Here's what brokerages suggest

LIC share price target: Should you buy, sell or hold LIC shares? Global brokerages have maintained a neutral call each on the Life Insurance Corporation of India (LIC) following state-run life insurance major's March quarter results.

LIC share price target: What lies ahead for LIC shares?

Goldman Sachs has maintained a neutral call on the life insurance behemoth's stock. The brokerage revised its target to Rs 950 per share from Rs 855 earlier. According to Goldman Sachs, the business is a mix heading in the right direction, but the margin trajectory remains gradual. "Management expects non-par products to outpace the rest of the top line, leading to steady improvement in VNB margins," the brokerage said in its note. In addition, Macquarie too has retained a neutral call with a target price of Rs 850 per share.

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LIC Q4 FY24 results: How did LIC fare in the March quarter?

LIC reported a standalone net profit of Rs 13,762.6 crore for the quarter ended March 31, an increase of 2.5 per cent compared with the corresponding period a year ago. LIC's net premium income for the fourth and final quarter of FY24 stood at Rs 1,52,293.1 crore, up 15.6 per cent on a year-on-year basis.

LIC dividend 2024: Rs 6/share payout

LIC has recommended a final dividend of Rs 6 per share for the financial year ended March 31.

LIC dividend 2024 record date

The company has fixed July 19, 2024, as the record date to ascertain the eligibility of shareholders for this corporate action.

LIC share price today NSE

LIC shares on Wednesday, May 29 closed at Rs 995.5, down 2.02 per cent on NSE.

LIC share price history

LIC stock has given a positive return of over 67 per cent in the last 12 months (from May 29, 2023). In comparison, the headline index Nifty 50 has rallied over 23 per cent.

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