The Life Insurance Organisation of India (LIC) is India’s largest government-owned life insurance and investment company. Its primary responsibility is to invest in global financial markets and other government assets after collecting funds from individuals via various life insurance contracts.
Here are two stocks under Rs 50 in which LIC owns up to 2.83% stake.
Easy Trip Planners shares were trading at Rs 39.45 a share on Friday, up 1.15 percent from the previous close price of Rs 39. The company has a market capitalization of Rs 6,866 crore.
As of Q1 FY24, LIC holds a 2.21 percent stake out of the 2.5 percent stake held by domestic institutional investors in the company. The company’s promoter has a 71.3 percent stake. while Foreign institutional investors hold 2.54 percent.
Easy Trip Planner’s revenue has increased by 23 percent year on year, from Rs 83 crore in Q1FY23 to Rs 102 crore in Q1FY24. During the same period, net profit declined by 21 percent from Rs 33 crore to Rs 26 crore.
The company’s net profit margin stands at 34.15 percent and its operating margin at 46.44 percent.
The company offers a comprehensive range of travel-related products and services including airline tickets, hotels and holiday packages, rail tickets, bus tickets, and taxis as well as ancillary value-added services such as travel insurance, visa processing, and tickets for activities.
Central Bank of India shares were trading at Rs 47.55 a share on Friday, up 6.14 percent from the previous close price of Rs 44.80. The company has a market valuation of Rs 41,277 crore.
As of Q1 FY24, LIC holds a 2.62 percent stake out of the 2.83 percent stake held by domestic institutional investors in the company. The company’s promoter has a 93.08 percent stake.
Central Bank of India’s revenue has increased by 31 percent year on year, from Rs 5,555 crore in Q1FY23 to Rs 7,258 crore in Q1FY24. During the same period, net profit increased by 76 percent from Rs 243 crore to Rs 428 crore.
The Company’s return on equity increased from 4.51 percent in FY22 to 6.56 percent in FY23, while the return on capital employed rose from 1.38 percent to 1.74 percent during the same period.
Central Bank of India is a commercial bank. The Bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and other Banking businesses.
Written By Omkar Chitnis
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact [email protected]
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!