State-run insurance coverage behemoth Life Insurance coverage Company of India (LIC)’s board will meet right now to contemplate cost of dividend, if any, and approve the audited Annual Monetary Outcomes (standalone and consolidated) for the quarter/12 months ended on March 31, 2022.
LIC share value are down greater than 15% from its IPO situation value. The shares of the insurance coverage behemoth made their inventory market debut earlier this month on Could 17, 2022.
Analysts imagine that the life insurance coverage firm will attempt to announce a very good dividend for shareholders in view of the lacklustre debut of the insurer within the inventory market.
“LIC didn’t pay any dividends within the final monetary 12 months, so there are excessive probabilities that the corporate would possibly declare a very good dividend this 12 months, thus making it a very good dividend play,” stated Santosh Meena, Head of Analysis, Swastika Investmart Ltd.
LIC IPO, India’s largest until date, had closed with almost 3 instances subscription, predominantly lapped up by retail and institutional patrons, however international investor participation remained muted. The value vary for LIC’s mega situation was set between 902 and 949 per share. The federal government bought over 22.13 crore shares or a 3.5% stake in LIC by way of the preliminary share sale.
“We imagine that LIC is a good funding alternative within the brief to medium-term contemplating its robust market presence, enchancment in future profitability because of the modifications in surplus distribution norms and powerful sector progress outlook. LIC can carry out properly when we now have a bounce available in the market and constructive efficiency within the insurance coverage sector” stated Vinod Nair, Head of Analysis at Geojit Monetary Companies.