Gautam Adani - Hindenburg Gatha - Is it appropriate to buy shares of LIC after the third quarter results?air India news

Adani- Hindenburg Saga-The Hindenburg Research report has come under the scanner after 88 queries were raised from Gautam Adani-backed Adani Group companies, the State Bank of India (SBI), and the Life Insurance Corporation of India. While SBI shares remain unpredictable after the Hindenburg Research report, Shares of LIC saw heavy selling after the outbreak of this row and it came down from ₹702 to ₹582 in all circumstances in the last 12 sessions, down nearly 17 percent during this period. still, SBI has formerly made it clear that it has just 0.88 percent of its total loan book in Adani group companies. Like SBI, LIC also declared that it's sitting with a big profit on its investment of around ₹,000 crore in the company.  In fact, LIC reported strong results in the third quarter as well. still, for a nethermost finisher, who believes in long-term investment, LIC shares can be a soliciting stock as it has lately made it's 52-week low and after making its low, it has witnessed buying interest as well. According to stock request experts, the perimeters of LIC have remained stable and LIC is transferring fat in the on-par account to the shareholders' account every quarter. They said that LIC shares made a good demand zone in ₹ 580 to ₹ 585 and bounced back from there. presently, the LIC share price is facing a chain at ₹ 670 to ₹ 680 situations and it can come largely bullish once it sustains above ₹ 680 in all situations. Experts believe that after closing above ₹ 680 in all situations, LIC shares may go up to ₹ 800 per share situations in long term. Speaking on LIC exposure in Adani group companies, Avinash Gorakshkar, Head of Research at Profit mart Securities said," LIC's exposure in Adani group companies is around ₹,000 crore whereas it has in hand cash to the tune of ₹,000crore. However, which is around ₹ 21, 000 crore, If we add the unclaimed cash into our account. Thus, the total capacity of IT to manage IT's investments in Adani stocks is similar to that of IS. still, the entire investment will not come to zero". air India news

 

Speaking on LIC share price outlook, Anuj Gupta, Vice President — Research at IIFL Securities said," LIC has reported a multi-fold increase in consolidated net profit to 8334 crores as growth in ultra-expensive income increased. It'd ultra expensive income bettered by 14.5 from ₹ 97620 crore in Q3FY22. So, the fundamentals of the company are sound position as its perimeters are also maintained."' Technically it's showing V shape recovery from its recent low of ₹582.35 situations. We're awaiting it may move higher from then and may test ₹ 670 to ₹ 680 situations veritably soon. However," said Anuj Gupta of IIFL Securities, If it traduced ₹ 680 situations also it may move higher to test ₹ 750 and ₹ 800 situations.

pressing the takeaways from LIC Q3 results in 2023, Avinash Singh, Senior Research Analyst at Emkay Global Financial Services said," LIC's Q3FY23 Ham growth stood at7.4 YoY( Retail 0 YoY; Group 32 YoY), leading to a sharp temperance in 9MFY23 Ham growth to25.5 YoY from36.7 YoY in H1FY23. The retardation reflects the uninterrupted request share loss in the retail member. VNB periphery for 9MFY23 at 14.6 was flat. that in H1FY23. Q3FY23 PAT was strong at

Rs63bn, largely led by the account policy change espoused from FY23, where LIC is transferring fat in then on-par account to shareholders' account every quarter."

Emkay Global expert said that in terms of one-offs, duty reversal in policyholders' accounts owing to lower effective duty rate, the interest of refund of income duty, and provision for withdrawal benefits on account of pay envelope modification were large, but their impact on PAT would not be material due to utmost of these being part of sharing account.

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