Shares of public sector insurance company 'LIC', in the last 15 days, . An
increase of almost 25 percent.
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lic stocks, iamge from freepik. |
Adani Group shares led LIC, shares to rise
LIC's new insurance plan, its quarterly results and investors' foray into
public sector stocks have pushed its share price slightly higher in the
market than it was nearly a year ago.
Shares of
LIC rose 4.47-percent to trade at Rs 746 on the National Stock Exchange
yesterday. LIC's 'Jeevan Utsav' program has been well received in the
market.
Also, LIC has a certain amount of investment in Adani Group shares, which
has helped LIC in the appreciation of the group's shares.
Apart from these, it is worth noting that if the
recent
state election results are in favor of the ruling BJP at the centre, the
interest in shares of public sector companies is increasing. After LIC's
second quarter results were released, many stockbrokers predicted that LIC's
share price would rise further.
Notably, LIC's net profit
stood at Rs 17,469 crore in the first half of the current financial year, an
all-time high.
However, even after the current price hike, shares of LIC are trading below
their fresh issue price of Rs 949.