Buy Life Insurance Corporation of India Ltd For Target Rs.770 / 840 - LKP Securities
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Future Outlook
• The Life Insurance Behemoth is likely to close the current fiscal with Net Premium of almost Rs 5000bn and has all the levers in place to maintain its Industry leading position.
• While it's share of Par Products in the Individual Business remains at 90%, the ULIP products did drag it's Non- Par margins during Q1. However we expect the Insurer to fare much better in August & September which should improve margins.
Technical Commentary
• LICI has given a consolidation breakout.
• Beside, it is sustaining above 50ema.RSI is in bullish crossover on the weekly timeframe.
• The trend is likely to remain positive over the short term.
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