lic share price lic listing lic share update
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In the last one year, mutual funds and FIIs have reduced their stake in it. According to the March shareholding pattern, mutual funds’ holding in LIC has come down to 0.63 per cent from 0.66 per cent in December. Similarly, the share of FII has also come down from 0.17 per cent to 0.08 per cent. But during this period the stake of retail investors has increased from 1.92 per cent to 2.04 per cent. The reason for this is that retail investors have bought it due to the fall in the share price. However, the number of total retail investors of LIC has declined during this period. At the time of IPO, the number of retail investors of LIC was 39.89 lakh. In the March quarter, this number has come down to around 33 lakhs.
biggest issue ever
LIC’s Rs 21,000 crore IPO is the biggest issue in the country so far. Many people had invested money in the stock market for the first time through this. But they are in for a disappointment. According to Trendline data, out of 15 analysts covering LIC, 12 have a buy recommendation while three have a hold recommendation. LIC share has given a trend breakout from the bearish channel pattern on the weekly chart. Momentum indicator MACD is also giving bullish signals. Ganesh Dongre of Anand Rathi says that it can be bought with a stop loss of Rs 535. Its price can go up to Rs 610 in the coming days. At 1.30 pm, the company’s stock was trading at Rs 568.30, up 0.16 per cent on the BSE.
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