Life Insurance Corporation of India (LIC) has paid Rs 2,441 crore as dividends to the Government of India. The office of Finance Minister Nirmala Sitharaman shared details on her social media platform 'X' on Friday. According to the statement, LIC Chairman Siddharth Mohanty presented a dividend check of Rs 2,441.44 crore to Finance Minister Nirmala Sitharaman. The check was handed over in the presence of Finance Secretary Vivek Joshi. Meanwhile, LIC shares gained 0.69% to close at Rs 1,029.90 on the NSE last Friday. The company's shares have surged by 8.93% in the past month and approximately 56.38% over the last 6 months. Notably, LIC has delivered a robust return of 71.34% in the previous year.
Stock market analysts attribute the recent uptrend in LIC shares to the company's impressive December quarter results and its significant market presence. They note that LIC shares were undervalued relative to an industry PE multiple of 2. What do experts say?
"LIC announced results on February 8, which was well received by the stock market. Initially, the stock surged almost 6% in a positive response. Omkar Kamtaker, a research analyst at Bonanza Portfolio, noted that LIC was trading at a significant discount to embedded value (EV) despite its strong performance.
(Note - This contains information about share performance and does not constitute investment advice. The opinions expressed by experts are their own. It is advisable to seek advice from professionals before making any investment decisions.)