look news india
New Delhi: If you invest in the stock market then this news is for you. Market analyst Manav Jaiswal recommends betting on the country's largest insurance company. He says that LIC shares are expected to rise in the long term. He has set a target of Rs 1300 for this share. This is 40 percent more than the current price. It is noteworthy that on March 28, LIC shares had closed at Rs 917 with a gain of 2.75 percent.
But he says that nothing can be said about what will be the lower level of this stock. Jaiswal also said that investors should exit at the 200-day DMA. DMA stands for Daily Moving Average. 200 DMA means 200 day moving average. This gives traders long term knowledge of what the average closing price of the stock will be after 200 days. 200 day DMA of LIC stock is Rs 790. This means investors should exit if the stock falls below Rs 790.
Price reached Rs 1175
Last month, on February 9, LIC shares reached a 52-week high of Rs 1175. But then it fell to Rs 904. Today again a rise was seen in the stock and it closed at Rs 917. 69 percent of experts on brokerage app Groww are advising to buy the stock. The 52 week low level of this share is Rs 530.
financial position of the company
According to a news published on CNBC, the stock is expected to rise due to improvement in the financial condition of this company. The company's revenue in the December 23 quarter was Rs 2.14 lakh crore. Whereas in the September quarter it was Rs 2.03 lakh crore. Talking about profit, the profit in the September quarter was Rs 8030 crore, which increased to Rs 9469 crore in the December quarter.
