look news india
Mumbai/New Delhi, 26 July (HS). The stock of public sector insurance company Life Insurance Corporation of India (LIC) reached a record life-time high of 1,178.60 on Friday, the last trading day of the week. With this, the market capitalization of LIC has reached 7.34 lakh crores.
The share price of LIC on the Bombay Stock Exchange (BSE) reached a new high of Rs 1,178.60 during trading. Earlier, the company's stock was at an all-time high of Rs 1175 per share on February 9, 2024. Due to this excellent performance, the stock has given a return of 38.61 percent since the beginning of this year. This figure is much higher than the benchmark indices Sensex and Nifty, which have given a return of 11.24 percent and 12.86 percent respectively.
Due to the rise in the share of LIC in the stock market, LIC has become the eighth largest listed company in the country. Along with this, it is in second place after State Bank of India among the PSU companies listed by the government. Currently, the share of LIC is trending at 1,191.05 on the BSE Sensex with a rise of 30.55 points or 2.63 percent.
It is noteworthy that in the first quarter (April-June) of the current financial year 2024-25, the net profit of LIC stood at Rs 9,544 crore, whereas in the same quarter of the previous financial year, the company had a profit of Rs 683 crore.