LIC share hits 1,000 level on improvement in business prospects
New segment entry can diversify revenue streams Pravesh Gour, senior technical analyst, Swastika Investmart, said
new market entries like health and micro insurance can diversify revenue streams and attract new customer segments. LIC's leading
position in life insurance, attractive valuation, and tailwinds like rising domestic savings and growing life insurance awareness
paint a positive outlook improving business pros pect, shift towards digitisation, ongoing bull-run in public sector undertaking (PSU) stocks and other favourable factors has pushed the shares of Life Insurance Corporation of India (LIC) to over 1,000 mark for the first time on Monday.
The stock hit an all-time high of 1,027.95 during Monday's intraday session. The scrip close higher by 5.33% at Rs 995 on Monday.
This is a remarkable feat given LIC shares took a big beating since its listing in May 2022 and fell to a low of 530.20 on March 29, 2023. A rally of over 90% from this point has also made the insurance giant as the most valuable PSU company in India.
