The stock has given 38.61% return much higher than the benchmark index, Sensex and Nifty which have given a return of 11.24% and 12.86% respectively
FinTech BizNews Service
Mumbai, 26 July, 2024: State-run insurer Life Insurance Corporation of India (LIC) touched a new life time high of Rs 1178.60 on BSE. Prior to this, on 9th February, 2024, the stock had hit its life time high of Rs 1175 a share.
Adding to the remarkable performance, year to date, the stock has given 38.61% return much higher than the benchmark index, Sensex and Nifty which have given a return of 11.24% and 12.86% respectively.
Surging to a new all-time high in today's trade, the company's market capitalisation reached ₹7.34 lakh crore, securing its position as the eighth-largest listed company in India and the second foremost among government-listed PSU companies after State Bank of India.
Taking the stock's current market price of ₹1,171.40 apiece, the stock is trading 21.71% higher than its IPO price.
On the other hand, on a year to date basis, Private Life Insurers like HDFC Life Insurance Company Ltd rose 6.31%, ICICI Prudential Life Insurance Company Ltd rose 32.93% and SBI Life Insurance Company Ltd rose 18.66%.
