After the Union budget 2023, we saw a sharp decline in the insurance stock price. HDFC life insurance fell by more than 20%. We saw similar decline in SBI Life Insurance and LIC India. LIC India also saw a decline because of the Hindensburg’s report on Adani stocks and LIC choosing to invest in Adani stocks. As such, investors are worried and want to know if LIC India is a good stock to hold for long term and what is LIC India’s share price target for the period of 2023 to 2030.
LIC India has been a staple in the Indian insurance sector for many years and has maintained a strong market presence with its diverse range of insurance products. Investors have been keeping a close eye on the LIC India share price, especially in light of the company’s recent financial performance.
As of 6th September, 2023, LIC India in 2023 has given a negative return of -3.88% YTD. This performance has raised questions about the future of the LIC India share price and whether it’s a good investment opportunity.
Whether you’re a seasoned investor or just starting out, this article will provide valuable insights into the future of LIC India’s share price and its potential as an investment opportunity.
LIC Recently Released its Results: Q1 FY2024 Summary
- LIC achieves remarkable Q1 performance: Net profit surged by a staggering fourteen-fold, reaching Rs 9,544 crore compared to Rs 683 crore in the same period last year.
- Strong investment income: Income from investments soared to Rs 90,309 crore, displaying a substantial increase from Rs 69,570 crore in Q1 FY2023.
- Strategic adjustments in premium: First-year premium witnessed an 8.3% drop, settling at Rs 6,810 crore, in contrast to Rs 7,429 crore in the previous year.
- Robust growth in non-par APE: Non-par Annualized Premium Equivalent (APE) demonstrated a robust growth of 21.6%, escalating to Rs 608 crore from Rs 500 crore in Q1 FY2023.
- Positive asset quality and solvency: LIC’s gross non-performing asset (GNPA) improved to 2.48% from 5.84% last year. The solvency ratio marginally increased to 1.89 from 1.88 in Q1 FY2023.
Stock history of LIC India
LIC India has a long and rich history in the Indian insurance sector. Over the years, LIC India has expanded its product offerings to include a wide range of insurance products, including life insurance, health insurance, and investment-linked insurance plans.
LIC’s stock was first listed on the Bombay Stock Exchange (BSE) in May, 2022, and since then, it has become a popular investment option for both retail and institutional investors. Though LIC India’s issue price was ₹949 per share, the stock after listing has corrected by 40% or more.
In the last two quarters, LIC’s financial performance has been strong, which has contributed to an increase in its share price, which is currently trading at Rs. 641, up more than 20% from its 52 weeks low of Rs. 530.
Latest news about LIC India
- LIC achieves a remarkable surge in Q1 net profit, reaching Rs 9,544 crore, marking a substantial increase.
- GNPA sees a positive development, easing to 2.48% within LIC’s operations.
- The Jeevan Kiran plan is introduced by LIC, offering a new insurance option to the public.
- In a directive from NCDRC, LIC is mandated to provide Rs. 6 lakhs in insurance claims along with a bonus to the recipients.
You can buy LIC India shares from the following trading platforms:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2023 | ₹707.22 | ₹544.02 |
| October 2023 | ₹673.55 | ₹518.11 |
| November 2023 | ₹740.90 | ₹569.92 |
| December 2023 | ₹829.81 | ₹638.31 |
The LIC India share price is expected to experience a bullish trend in 2023, with growth projections ranging from a minimum of Rs.530.05 to a maximum of Rs.829.81, a growth percentage of anywhere close to 56%. This uptrend is projected to continue throughout the year, with a strong performance in the first half of 2023 followed by a relatively stable performance in the latter half of the year.
After LIC India’s stock correction in the first quarter of 2023, we expect LIC India share price to increase. The bullish trend is expected to continue into the subsequent months, with projections for maximum prices reaching as high as ₹829.81 in December 2023 and minimum prices being ₹638.31.
LIC India share price is expected to experience a strong and steady growth throughout 2023, making it a potentially attractive investment option for those looking to invest in the Indian auto sector.
For the month of September, LIC India is expected to trade in between ₹707.22 and ₹544.02
| When | Maximum Price | Minimum Price |
| January 2024 | ₹873.48 | ₹671.91 |
| February 2024 | ₹981.44 | ₹817.87 |
| March 2024 | ₹1,033.10 | ₹839.92 |
| April 2024 | ₹939.18 | ₹722.45 |
| May 2024 | ₹782.65 | ₹602.04 |
| June 2024 | ₹939.18 | ₹722.45 |
| July 2024 | ₹798.30 | ₹618.84 |
| August 2024 | ₹878.13 | ₹696.93 |
| September 2024 | ₹922.04 | ₹709.26 |
| October 2024 | ₹1,084.75 | ₹834.42 |
| November 2024 | ₹1,138.99 | ₹876.15 |
| December 2024 | ₹1,161.77 | ₹893.67 |
We can clearly analyse that LIC India share price is expected to experience a continued uptrend in 2024, with growth projections ranging from a minimum of 602.04 to a maximum of 1,161.77, a growth percentage of anywhere between 17.16% and 93.23%. The year is expected to start strong, with January 2024 projecting a maximum price of ₹873.48 and a minimum price of ₹671.91, a growth percentage of 29.59%.
The maximum and minimum price targets for LIC India in 2024 are expected to be ₹1,161.77 and ₹602.04 respectively. This bullish trend is expected to continue throughout the year, with projections for maximum prices reaching as high as ₹1,138.99 in November 2024 and minimum prices as low as ₹722.45 in April 2024.
| When | Maximum Price | Minimum Price |
| January 2025 | ₹1,185.00 | ₹911.54 |
| February 2025 | ₹1,247.37 | ₹959.52 |
| March 2025 | ₹1,309.74 | ₹1,007.49 |
| April 2025 | ₹1,169.41 | ₹899.55 |
| May 2025 | ₹1,063.10 | ₹817.77 |
| June 2025 | ₹1,169.41 | ₹899.55 |
| July 2025 | ₹1,113.73 | ₹856.71 |
| August 2025 | ₹1,160.13 | ₹892.41 |
| September 2025 | ₹1,218.14 | ₹937.03 |
| October 2025 | ₹1,291.23 | ₹993.25 |
| November 2025 | ₹1,381.61 | ₹1,062.78 |
| December 2025 | ₹1,409.24 | ₹1,084.03 |
The LIC India share price target for 2025 is quite promising, with the minimum price expected to be around ₹911.54 and the maximum price expected to be around ₹1,409.24. The bullish trend is expected to continue, and the growth percentage is expected to be substantial.
During the first quarter of 2025, the share price is expected to reach ₹1,247.37, and it is expected to grow to ₹1,309.74 by March 2025. The mid of 2025 shows a slight dip in the share price, but it is expected to pick up again in the latter half of the year.
The share price is expected to reach ₹1,291.23 by October 2025, and it is expected to end the year at ₹1,409.24. The uptrend in the LIC India share price is expected to continue, and investors can expect good returns on their investments in 2025.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹986.47 | ₹690.53 |
| 2027 | ₹838.50 | ₹586.95 |
| 2028 | ₹1,509.30 | ₹1,056.51 |
| 2029 | ₹3,100.34 | ₹2,170.24 |
| 2030 | ₹3,452.65 | ₹2,416.85 |
The share price of LIC India is expected to show an upward trend over the next decade, with a significant increase projected between 2029 and 2030. The maximum price of LIC India’s shares is expected to reach ₹3,100.34 in 2029 and ₹3,452.65 in 2030, which is more than three times the minimum price of ₹586.95 in 2027.
In 2026, the maximum price of LIC India’s shares is expected to be ₹986.47, while the minimum price is projected to be ₹690.53. This indicates a bullish outlook for LIC India’s shares over the next decade and investors can expect an uptrend in the share price with growth potential in the long-term.
Financial Condition of LIC India: Last 5 years
| Financials | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Sales (Crore INR) |
522,848 | 559,986 | 615,920 | 720,314 | 1,087,933 |
| Expenses (Crore INR) |
513,419 | 550,030 | 608,641 | 708,926 | 1,054,015 |
| Operating Profit (Crore INR) |
9,429 | 9,957 | 7,280 | 11,387 | 33,918 |
| OPM % | 2% | 2% | 1% | 2% | 3% |
| Other Income (Crore INR) |
801 | 841 | 2,698 | 992 | 7,782 |
| Interest (Crore INR) |
46 | 39 | 58 | 0 | 0 |
| Depreciation (Crore INR) |
302 | 333 | 375 | 433 | 0 |
| Profit before tax (Crore INR) |
9,882 | 10,425 | 9,545 | 11,945 | 41,700 |
| Tax % | 75% | 74% | 72% | 66% | 13% |
| Net Profit (Crore INR) |
2,446 | 2,688 | 2,713 | 4,043 | 36,397 |
| EPS in Rs | – | – | – | 6.39 | 57.55 |
| Dividend Payout % | 0% | 2% | 2% | 23% | 5% |
LIC India, one of the leading insurance companies in India, has showcased a strong financial performance over the last five years. From 2019 to 2023, the company experienced consistent growth in its sales, with revenues increasing from Rs. 522,848 crore to an impressive Rs. 1,087,933 crore. Despite rising expenses, LIC maintained a steady operating profit, with a notable surge in 2023, reaching Rs. 33,918 crore. The company’s operating profit margin also showed resilience, staying between 1% and 3% during this period.
Furthermore, LIC demonstrated its ability to generate additional income through diverse sources, as reflected in the steady growth of other income. With its robust financials, LIC stands as the fifth-largest global player in terms of life insurance GWP and is recognized for its substantial assets under management (AUM) of Rs. 40.1 lakh crore, which accounts for approximately 17.0% of India’s GDP. Additionally, LIC holds significant investments in listed equities and government bonds, further solidifying its position as a key asset manager in the country.
Purchase shares of Life Insurance Corporation of India; Yes Securities sets a target price of Rs 656 (9th August, 2023)
Emkay Global has conducted an analysis of Life Insurance Corporation of India with a recommended price target of Rs 800.
JM Financial recommends purchasing Life Insurance Corporation of India and has set a target price of Rs 940.
Although Yes securities have not given any set price, but they predict that the share of LIC can give more than 25% returns in the long run.
Life Insurance Corporation of India, NSE: LICI, has been given a Buy rating by domestic brokerage firm Kotak Institutional Equities, with a price objective of Rs 975.
Motilal Oswal has suggested to buy LIC with a predicted price of Rs 830.
FAQS
According to our analysis, LIC India share price will increase to ₹829.81 by the end of 2023.
The share price target of LIC India for 2025 might be around Rs. 1,409.24. With projections for continued growth and stability, LIC India may be a wise choice for those looking to secure a profitable return on investment.
Can LIC touch 3000 INR?
Yes, according to our analysis, LIC can touch 3000 INR by 2030. The LIC India share price is expected to continue its strong performance till 2030, making it a potentially attractive investment option for those looking to invest in the Indian auto sector.
The per share price of LIC India might reach around ₹3,452.65 by the end of 2030.
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- Dogecoin (DOGE) Price Prediction 2023, 2024, 2025 till 2030: Is Dogecoin a good buy?
Conclusion: Is LIC India a good investment in 2023?
Based on the financial data of LIC India over the last five years, the company has seen a steady growth in its revenue and profit. Despite some fluctuations, the company has maintained a positive trend in terms of operating profit and net profit.
LIC India launched its IPO last year at a massive valuation, which is why we saw the price correct till the first quarter of 2023. However, according to me, LIC India is now available at an attractive valuation. The company is also growing rapidly. The PE ratio dropped from the highs of 125 to lows of 9.47 (as of September 6, 2023).
The percentage growth in net profit after tax (PAT) has also been significant, with a maximum increase of 60% in the year 2023 and a minimum increase of 10% in the year 2020. This stability and growth in the company’s financial performance makes it a good investment option in September 2023.
Other factors also indicate the influence of your investment decision such as PB ratio, EPS, 52-week high and 52-week low. Adding to the same, in September 2023, PB ratio stands at 9.39, TTM EPS stands at 71.55. The 52-week high and 52-week low is currently at Rs. 754 and Rs. 530 respectively.
Additionally, with the share price targets for the next seven years estimated to be in a range of ₹327.09 to ₹3,452.65, LIC India shares are likely to offer a good return on investment.
In conclusion, for an investor looking for stability and steady growth, LIC India shares may be a good investment option to consider.
Disclaimer: This article on ‘LIC share price target 2023 to 2030’ is meant only for education and is by no means a financial advise. Please DYOR and consult a financial advisor before investing. Co-founder of this blog, holds shares in LIC India
What did we learn?
- 1 LIC Recently Released its Results: Q1 FY2024 Summary
- 2 Stock history of LIC India
- 3 Latest news about LIC India
- 4 How to buy LIC India shares?
- 5 Share Price Prediction of LIC India: 2023 to 2030
- 6 Financial Condition of LIC India: Last 5 years
- 7 LIC India share price target by Experts
- 8 FAQS
- 9 Conclusion: Is LIC India a good investment in 2023?
