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Seven days into the listing, here's where LIC stands among its peers

CNBCTV18 logo CNBCTV18 26-05-2022 Sandeep Singh

Life Insurance Corporation (LIC) shares have completed seven full trading days since its listing on Dalal Street. Barring minor bounces, the LIC stock has largely changed stayed below the flatline following a weak listing.

LIC's market debut comes amid wild gyrations in the market mirroring global moves as investors fret over steep hikes in COVID-era rates and the prospect of slowing world economic recovery.

In the first seven days on BSE, the LIC stock has moved within a Rs 116 range in intraday trade, failing to cross its issue price of Rs 949.

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Barring HDFC Life Insurance, LIC's listed peers have given decent returns over the past years despite a lukewarm start.

Here's where LIC stands among the peers in terms of the performance in the secondary market:
Stock Return in first seven days from listing CMP vs issue price Listing
LIC -5.3 -13.5 May 2022
HDFC Life 22.3 96.2 Nov 2017
SBI Life -6 56.5 Sept 2017
ICICI Prudential Life -3.6 55.9 Sept 2016

Many analysts find LIC's valuation to be reasonable compared to its listed peers.

"LIC is trading at a price to embedded value (EV) of around 0.9 times which is at a significant discount to other listed private life insurance companies like HDFC Life, ICICI Prudential Life and SBI Life. However, its cheaper valuation compared to other listed players offers comfort," Yash Gupta, Equity Research Analyst at Angel One, told

Investors with a longer time horizon can hold on to their positions in Life Insurance Corporation and even can look to partially add positions, he said. 

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