Monday, February 26, 2024

LIC did this feat for the first time and made a profit of Rs 35 thousand crores

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The shares of LIC, the country’s largest life insurance company, crossed Rs 1000 for the first time on Monday and there was a profit of Rs 35 thousand crore in the company’s valuation. After the stock market closed, the company’s shares saw a rise of about 6 percent. The IPO of the company came on 4 May 2022 and the listing of the company took place on 17 May 2022. Since then the shares of the company had not crossed Rs 1000.

During the trading session, the company’s shares rose by 9 percent and reached a 52-week high. The special thing is that in the last 10 months the company’s shares have seen a rise of about 94 percent. With this, the market valuation of Life Insurance Corporation of India (LIC) has exceeded Rs 6 lakh crore. Let us also tell you what kind of figures of LIC are being seen in the stock market.

LIC shares at record level

LIC shares closed at Rs 1,000.35 on BSE, up 5.90 per cent. At one point during trading, it had reached 52-week high of Rs 1,027.95, up 8.81 per cent. Its shares rose by 5.64 percent at Rs 998.85 on NSE. During trading, it jumped 8.73 percent to Rs 1,028, which is its 52-week high. The company’s 52-week low was made on March 29, 2023. Since then, i.e. in about 10 months, the company’s shares have seen an increase of 94 percent.

profit of 35 thousand crores

Amid the rise in the stock market, the market capitalization of LIC increased by Rs 35,230.25 crore to Rs 6,32,721.15 crore. So far this year, LIC shares have risen by 20 percent. Last month, LIC became the most valuable public sector company in the country by leaving behind State Bank of India (SBI) in terms of market valuation. However, Reliance Industries is the most valuable company in the country with a market valuation of Rs 19,46,521.81 crore.

When was LI listed?

The country’s largest insurance company LIC was listed in the stock market in May 2022. At that time, the government had sold more than 22.13 crore shares or 3.5 percent stake in LIC through Initial Public Offering (IPO). The government still holds 96.5 percent stake in the company. The special thing is that when the IPO of this company came, it was the biggest IPO in the country, which still remains a record.

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