LIC Beats SBI On NSE, Touches ₹919 For The First Time
Shares of Indias largest life insurance company, Life Insurance Corporation (LIC) rose 5.30% intraday on Wednesday.
LIC crossed its listing day price of ₹904 for the first time on Wednesday, January 17, making an intraday high of ₹918.45.
The shares rise 11% over the past month and over 43% during the past six months.
The stock has also risen 70% from its 52-week low of ₹530.
LIC has now become Indias most valuable PSU, overtaking the State Bank of India.
The current market capitalisation of LIC stands at ₹5.75 lakh crore, compared to SBIs ₹5.64 lakh crore.
The government had divested only a 3.5% stake at the time of its IPO in May 2022, which is to date, the countrys largest public issue.