ICICI Securities Picks This Insurance Sector Stock, Recommends Buy For 24 % Potential Upside
ICICI Securities picks Life Insurance Corporation Of India ( LIC) with a target price of Rs 917/ share.
brokerage recommends " Buy" stocks highlight: with a target price of Rs 917 per share. LIC is a state- owned large cap Insurance company.
It is India's largest insurer with a market capitalisation of Rs 4,68,018 crore.
The Current Market Price of the LIC is Rs 739.95 apiece, closed after gaining 0 .73 % from its previous close.
The 52 week high of the stock is Rs 918.95 recorded on 17 May 2022 and the 52- week low is Rs 588 recorded on 21 October Current Market Price 2022, respectively.
The of the stock over the past 1 week has given 3 .01 % positive return and in the past 1 month, it gave 15 .83 % positive the return, respectively.
In past 3 months, it has given 12 .74 % positive return.
Life Insurance Corporation ( LIC) has done particularly well in FY23-TD; could potentially lead to estimate upgrades
Total APE growth in FY23-TD for LIC has been strong at 30 .5%.
Even if the company reports 10 - 15% YoY growth for the remaining months of the year, its total APE growth would be 21 - 23% in FY23.
This could potentially lead to upgrades in earnings estimates, especially considering that there are levers for margin growth ahead.
Stable markets could further provide support given that there may not be any negative variances in H2FY23.
Disclaimer
The stock has been picked from the brokerage report of ICICI Securities.
Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article.
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By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt