LIC share price: In the fiscal year 2024, the Life Insurance Corporation of India (LIC) experienced positive returns from a majority of stocks in its portfolio. Notably, data indicates that at least 85 stocks held by institutional investors saw a remarkable rally, with gains exceeding 100% throughout the year. Leading the pack with an impressive surge of 427%, Gokak Textiles emerged as the top performer on this list. LIC maintained its stake in the company at 4.54% until December 2023. – LIC share price
As of December 2023, Shapoorji Pallonji and Company, a prominent promoter, maintained a significant stake of 73.56% in the company. Gokak Textiles specializes in the production of cotton yarn, blended yarn, industrial fabrics, and various other products.
Following closely on the list is Suzlon Energy, representing the renewable energy sector. The company’s shares experienced a notable increase of 412% between April 2023 and March 2024. Anand Rathi, a brokerage firm, holds an optimistic outlook on Suzlon Energy, setting a target price of Rs 49. As of April 1, shares of the company were trading at Rs 41.40 during afternoon trading.
Anand Rathi’s report pointed out that the global surge in renewable energy (RE) capacity, increasing by 50% year-on-year in CY23 to a record 507GW, was largely driven by de-carbonization efforts, concerns regarding energy security, and decreasing costs. India’s RE capacity witnessed substantial growth over the past decade, rising by more than 100GW to reach 178GW in FY23. Projections suggest that it is poised to expand over threefold to 500GW by 2030. Currently, domestic opportunities in wind energy stand at 40GW, with orders totaling 12GW from Independent Power Producers (IPPs) and Commercial & Industrial (C&I) sectors currently under execution. Anand Rathi emphasized that the presence of limited competition in this sector will prove advantageous for Original Equipment Manufacturers (OEMs) like Suzlon and Inox Wind.
In the LIC portfolio, Gujarat State Financial Corporation (up 333%), Housing & Urban Development Corporation (up 332%), TIL (up 315%), IFCI (up 304%), Rail Vikas Nigam (up 269%), and Bharat Heavy Electricals (up 253%) were notable gainers. Antique Stock Broking has expressed optimism about Bharat Heavy Electricals (BHEL), setting a target price of Rs 299, which suggests a potential upside of nearly 20% from the current market price of Rs 250.
Antique Stock Broking stated that BHEL’s earnings are projected to experience significant growth over the period spanning FY24–26, driven by robust ordering, enhanced execution capabilities, and the advantages of operating leverage. Anticipating the conclusion of legacy orders by FY25, they foresee a subsequent influx of new orders entering the execution phase from FY26 onwards. As a result, they have revised their FY26E earnings estimate upwards by 13%.
Also Read: Hindustan Aeronautics Share price
During the fiscal year ending in March 2024, shares of NBCC, Power Finance Corporation, The Jammu & Kashmir Bank, Dilip Buildcon, Oracle Financial Services Software, Punjab National Bank, Dixon Technologies, Lupin, Oil India, Tata Motors, Bajaj Auto, Union Bank of India, HDFC Asset Management Company, PTC India, Adani Ports, Adani Green Energy, Tata Power, Canara Bank, Hero MotoCorp, and HPCL witnessed significant rallies, exceeding 100%.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
