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The authorities is nudging to tweak its product strategy to maximise profitability in a bid to assist the nation’s largest insurer realise its full progress potential and yield higher returns for traders, an official stated.
Life Insurance Corporation (LIC) has been buying and selling beneath the problem worth of ₹949 a share ever because it received listed on inventory exchanges on May 17. It listed at ₹872 apiece on NSE. On Tuesday, the scrip settled at ₹595.50, down 0.72percentover the earlier shut.
Foreign brokerages, nonetheless, stay bullish on LIC setting a better goal worth over the following yr as they really feel that the insurer has good medium-term market potential, negligible excessive threat belongings and strong core working Return on Embedded Value (ROEV).
Citi in a analysis report dated October 14 set a goal worth of ₹1,000 for LIC scrip, saying LIC is ‘positioned higher than mature international gamers’.
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