LIC Shares: Government-owned and India’s largest Insurance firm ‘Life Insurance Corporation of India’ (LIC) has regained its position as the most valuable listed public sector company, surpassing the market capitalization of State Bank of India.
SBI‘s market capitalization is Rs 5.63 lakh crore. At around 10.45 am, shares of SBI were trading down 1.3 per cent at Rs 627.90, while LIC was up 1 per cent at Rs 901 on NSE.
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LIC stock performed well
LIC is up 22 per cent in 2023 and 7.5 per cent so far in 2024, while SBI shares underperformer last year and have lost more than 1 per cent so far this year.
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LIC to launch new product
Recently, LIC said it plans to launch three to four products in the coming months to achieve double-digit growth. In an interview with CNBC Chairman Siddharth Mohanty expressed confidence in achieving this target. Earlier, In November last year, LIC launched a special scheme called Jeevan Utsav.
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LIC Shares Performance Today
The stock of LIC crossed the price of ₹904 (above the listing price) for the first time on Wednesday. In early trade, it touched an intraday high of ₹918.45. The stock crossed its listing price of ₹867 and ₹889, the price at which shares were allotted to policyholders on Tuesday.
Shares of India’s largest insurer have risen 11% in the past month and 43% in the past six months. The stock is up 70% from its 52-week low of ₹530.
