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Business News/ Markets / Stock Markets/  LIC share price hits record high ahead of Q3 results today. Buy, hold or book profit?
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LIC share price hits record high ahead of Q3 results today. Buy, hold or book profit?

LIC share price today ascended to a new peak of ₹1,100 apiece on NSE

Q3 results today: Insurance giant LIC will announce results on Thursday where new business premium growth is expected to remain healthy, say experts.Premium
Q3 results today: Insurance giant LIC will announce results on Thursday where new business premium growth is expected to remain healthy, say experts.

Stock market today: Ahead of the announcement of Q3 results today for the current financial year, shares of the Life Insurance Corporation (LIC) climbed to a new peak during morning deals. LIC share price today opened upside and went on to touch a new high of 1,100 apiece on NSE within a few minutes of the stock market's opening bell.

According to stock market experts, LIC is expected to announce its Q3 results today. They said that LIC Q3FY24 results are expected positive as new business premium growth is expected to remain healthy for the insurance behemoth.

LIC Q3 results 2024 in focus

Expecting strong LIC Q3 results 2024, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, “Insurance giant LIC will announce results on Thursday where new business premium growth is expected to remain healthy."

On why the market is bullish on LIC shares ahead of Q3 results today, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Market is expecting better quarterly numbers from the insurance behemoth, which is a PSU too. The short-term trigger for LIC and other PSU stock is strong business and growth outlook expressed by PM Narendra Modi in the upper house of the parliament."

LIC share price target

Expecting further upside in LIC shares, Sumeet Bagadia, Executive Director at Choice Broking said, “LIC shares are looking positive on the chart pattern. Those who have this stock can hold the scrip maintaining stop loss at 1020 apiece level. The stock may go up to 1,150 per share level in the short term."

On the suggestion to fresh investors, Sumeet Bagadia said, “Fresh investors can maintain buy on dips strategy keeping stop loss at 1020 for short term targets of 1125 and 1150 apiece."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 08 Feb 2024, 09:28 AM IST
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