Today saw a remarkable surge in the shares of Life Insurance Corporation (LIC), India’s largest life insurer, as they soared by 8.8% during intraday trading, surpassing the significant milestone of ₹1000 for the first time. The stock reached a record high of ₹1,028 per share.
Examining the performance of LIC shares over recent months reveals a consistent upward trajectory. In November, the shares witnessed a notable upswing, culminating in a substantial gain of 12.83%. This positive trend continued into the subsequent months, with a rise of 22.52% in December followed by a further increase of 14% in January. Notably, on January 23, the company’s shares surpassed the IPO price of ₹949 per share, marking a significant milestone. Since then, the stock has maintained its upward momentum, consistently achieving fresh record highs.
Today’s surge in LIC shares not only propelled them to a new all-time high but also resulted in the company’s market capitalization reaching ₹6.50 lakh crore. This achievement solidifies LIC’s position as the sixth-largest listed company in India and the foremost among government-listed PSU companies. At noon, the stock was trading with a notable gain of 6.57% at ₹1,006.80 per share.
