LIC shares gain: Shares of Life Insurance Corporation (LIC) broke their losing streak after 10 days on Tuesday as they climbed 2 per cent on the back of higher volumes. LIC’s share price opened with a fall today but soon started climbing and rose to a high of Rs 684, up more than 1 per cent from yesterday’s closing price of Rs 668.25 on NSE. After closing at Rs 837.75 on NSE on May 30, 2022, LIC shares are taking a downward dive till Monday, June 13. LIC stock hit an all-time low on Monday after the lock-in period for anchor investors in the IPO ended. ,
The stock was listed on May 17 after an initial public offering (IPO) of Rs 21,000 crore. Since the listing, investors’ assets worth about Rs 1.7 lakh crore have been wiped out. Since listing, LIC has registered a decline of 28 per cent from its issue price of Rs 949 per share.
Should investors sell or hold LIC shares?
According to stock market experts, LIC shares can be accumulated at current levels as the stock is available at attractive valuations but the time frame for accumulation should be longer.
Manoj Dalmiya, Founder & Director-Proficient Equities Ltd said: “LIC made marginal profit, it should be on account of some buying but don’t treat it as a trend reversal and buy immediately and wait for some consolidation to happen, Those who have to hold for a longer period may stay holding as it doesn’t make sense right now and booking a loss, a job can be done which is higher on average on a consolidation.”
Ravi Singh, Vice President and Head of Research, Share India said: “LIC share prices may further fall towards the 700 level and investors are advised to exit their positions first and wait for the sentiments to change. High risk takers can stay on their positions. It is expected that LIC’s business metrics will improve continuously in the long run. Investing at lower levels will give good returns in the long run.
The views and investment suggestions of experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decision.
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