LIC shares jump 6% to cross Rs1,000 mark
image for illustrative purpose
New Delhi: The share price of Life Insurance Corporation of India (LIC) on Monday jumped nearly six per cent to hit the Rs1,000 mark for the first time ever, taking its market valuation to above Rs6 lakh crore. Last month, LIC surpassed the State Bank of India (SBI) to become the country’s most-valued PSU firm by market valuation.
The stock climbed 5.90 per cent to settle at Rs1,000.35 on the BSE. During the day, it zoomed 8.81 per cent to hit a 52-week high of Rs 1,027.95. At the NSE, it surged 5.64 per cent to Rs998.85. During the day, it jumped 8.73 per cent to Rs1,028, its 52-week high. The company’s market capitalisation (mcap) increased by Rs35,230.25 crore to Rs6,32,721.15 crore. So far this year, the company’s stock has jumped 20 per cent.
