On the Bombay Stock Exchange (BSE), shares of the state-run insurer Life Insurance Corporation of India (LIC) reached a new all-time high of Rs 1,178.60 on Friday.
Prior to this, on February 9 of this year, the stock reached an all-time high of Rs 1,175 per share.
Over the past year, LIC’s shares have increased by over 80% due to either outstanding operational performance or favorable investor sentiment toward PSU shares.
The benchmark indices, the Sensex and Nifty, returned 11.24% and 12.86%, respectively, while the stock returned 386.1%, a far larger percentage.
With a market valuation of Rs 7.34 lakh crore, the firm is now the second most valuable government-listed PSU corporation after the State Bank of India, and it is the eighth largest listed company in India.
At the current market price of Rs 1,171.40 per share, the stock is trading 21.71% higher than its initial public offering (IPO) price.
Private life insurers such as HDFC Life Insurance Company Ltd, ICICI Prudential Life Insurance Company Ltd, and SBI Life Insurance Company Ltd have had increases of 6.31 percent, 32.93 percent, and 18.66 percent, respectively, year-to-date.
Revenue for the company in the 2023–24 fiscal year was Rs 8.46 lakh crore, up from Rs 7.84 lakh crore in the 2022–23 fiscal year.
The company’s earnings rose from Rs 35,997 crore to Rs 40,885 crore during this time.
