LIC Shareholders: Brokers Set High Targets!
Welcome back to our latest piece, where we dive into the financial whirlwind hitting the markets today. In a day marked by significant downturns, Public Sector Undertakings (PSUs) have not been spared, witnessing a notable decline. Amidst this turmoil, we spotlight a stock that’s generating buzz among market experts and receiving updated ratings and forecasts.
LIC’s Spotlight
The stock in the limelight is none other than the government-owned life insurance behemoth, LIC. In light of its promising outlook, global brokerage giant J.P. Morgan has upgraded its rating on LIC, with domestic brokerage firm Motilal Oswal also weighing in with positive commentary. Let’s delve into the targets set by these financial powerhouses.
Target Insights
J.P. Morgan, recognizing LIC’s potential, has elevated its target price from ₹690 to a striking ₹1340 per share. Similarly, Motilal Oswal has set its sights on a target price of ₹1270 per share. It’s noteworthy that LIC’s stock has surged by 68% over the past year, a testament to its robust performance and investor confidence.
Current Scenario
However, it’s not all smooth sailing. LIC’s shares dipped by 5.26% to ₹1024 in Monday’s trading, down from an opening of ₹1112.05. The day’s trading saw highs of ₹1125 and lows of ₹1010.10, with the stock fluctuating between a 52-week high of ₹1175 and a low of ₹530.05.
Advisory Note
It’s crucial to mention that all the information here is gathered from various online sources, and the stock targets are provided by brokerage houses. Our aim is to keep you updated with market news. We do not offer investment advice. Before making any investment decisions, consulting with a financial advisor is highly recommended.
This blend of information serves to educate and guide our readers, from seasoned investors to those just starting out, on the intricacies of the stock market, highlighting the importance of informed decision-making in the volatile world of investing.
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