LIC got listed in the Indian Share market on 17 May 2022 at Rs 871. Since then, the stock is continuously falling. If you invested in the IPO, you might have questions like – What is LIC Share price target for 2023,2024,2025,2026,2030?
The stock price of LIC is ₹604.45 as of 17 June 2023, and it is trading near its 52 Week low of 530. As investors, you might also be thinking if it’s the right time to average the LIC shares and if you should buy it right now. I will address these questions in the post below.
LIC Company details
Life Insurance Corporation is a prominent company in the insurance industry. The company is known for its extensive range of life insurance products and services, catering to the needs of individuals and businesses alike.
The company has established itself as a trusted name in the market, offering reliable and comprehensive financial protection to millions of customers across India. Whether safeguarding your family’s future, planning for retirement, or investing in wealth creation, it has various insurance plans designed to meet your specific requirements.
LIC Share Price Targets
| Year | LIC Share Price Target (Rs) |
|---|---|
| 2023 | Rs 650 |
| 2024 | Rs 754 |
| 2025 | Rs 918 |
| 2026 | Rs 1028.10 |
| 2027 | Rs 1110.35 |
| 2028 | Rs 1347 |
| 2029 | Rs 1732 |
| 2030 | Rs 2116 |
LIC Share price Target 2023
We will now examining LIC’s net sales or income from operations. Over the quarters, we observe fluctuations in this key metric. While there was a decrease from Q1 2022 to Q2 2023, the most significant drop occurred in Q4 2022. However, there was a slight recovery in Q3 2023, although the income remains lower than in Q1 2022.
Looking at the above image , we can say that,
- The first Target on the upside for LIC is Rs 615, which is also its previous resistance level.
- Level 615 is essential, and if the stock breakouts of this level, we will quickly see a second target of Rs. 650 in the coming days.
- The Target on the downside for LIC is Rs 575. This level will act as a strong support, and it is unlikely to break it.
LIC Share price Target 2024
LIC’s first price target for 2024 is Rs 699. It is worth noting that we saw a significant decline in January 2023 from this level. Therefore, there is a high likelihood of another downturn occurring when the share reaches this level. Considering that, we won’t project bigger targets in the second half of 2024. Our second target is Rs 754.
Moving on, let us consider the other operating income. This component has also varied throughout the quarters, with each period displaying its unique fluctuations. Interestingly, Q2 2023 recorded the highest income, closely followed by Q3 2023, while Q1 2022 had the lowest.
LIC Share price Target 2025
Now, let’s combine the net sales/income from operations with the other operating income to analyze LIC’s total income from operations. Similar to the individual components, the total income has demonstrated diverse trends over the quarters. Q3 2023 stands out as the period with the highest total income, while Q4 2022 exhibits the lowest.
In 2025, we will see targets of up to Rs 918 for LIC, which is also its all time high price.
Next, we turn our attention to LIC’s expenditure. Firstly, we consider the employees’ cost, which has experienced fluctuations throughout the quarters. Q3 2023 witnessed the highest cost, while Q2 2023 had the lowest in this category.
LIC Share Price Target 2030
As the health industry grows, the sectors associated with the health sector will also grow. People are now more aware of Health Insurance than ever. LIC has 60.77% of the market share of health insurance in India (source irdai.gov.in). With the huge maket share ,the future of LIC is bright.
LIC can give us price targets of upto Rs 2116 by 2030 if the management keeps its peer out of the race.
LIC for long term
Let us examine LIC’s profit and loss (P/L) metrics. The P/L after tax from ordinary activities showcases variations, with the highest value recorded in Q3 2023 and the lowest in Q4 2022. Similarly, the net profit/loss for the period demonstrates significant fluctuations, with Q3 2023 showing the highest profit and Q4 2022 the lowest.
We consider the earnings per share (EPS) before and after extraordinary items to evaluate LIC’s profitability on a per-share basis. These values have also fluctuated across the quarters, with Q3 2023 displaying the highest figures and Q1 2022 the lowest.
LIC Price history
- The stock was listed at an opening price of Rs 872. On the same day, LIC made a high of Rs 918.95. Since then, the stock is continuously declining.
- Its 52 WEEK HIGH price is ₹ 754.40, and its 52 WEEK LOW is ₹ 530.05
- The stock made its first major up swing at level 589.
LIC Short term Support and resistance (BUY SELL LEVELS)
Recommendation:
Buy at / above: 606.39 Targets: 612.26 — 618.46 — 624.69 — 630.95
Stoploss : 600.25
Sell at / below: 600.25 Targets: 594.44 — 588.36 — 582.31 — 576.29
Stoploss : 606.39
Summary
LIC’s financial performance has exhibited fluctuations over the quarters. While Q3 2023 demonstrates positive growth compared to previous periods, Q4 2022 experienced relatively weaker results. As these share price targets for LIC are calculated based on its current performance, It is important to study its balance sheet each year as they will indicate the company’s actual growth.
FAQs
What is Share price of LIC?
The current share price of LIC is ₹604.45
What is profit growth of LIC?
The 1 year profit growth of LIC is 39.39 % as per its latest annual report. Its 3 year growth is 14.57% and 5 year profit growth rate is 12.62%.
How much percentage does Government hold in LIC?
The Central Government hold 96.5% of LIC. Public holding is 2.52%. FII and DII hold 0.08% and 0.9% respectively.
