On a year to date basis, private life insurers like HDFC Life Insurance Company rose 6.31 per cent, ICICI Prudential Life Insurance Company rose 32.93 per cent and SBI Life Insurance Company rose 18.66 per cent
Mumbai: State-run insurer Life Insurance Corporation of India (LIC) touched a new life time high of Rs 1178.60 on BSE as Sensex rose 624 points, or 0.78 per cent , higher at 80,664.07, after breaking 5-day losing streak.
Prior to this, on 9th February, 2024, the stock had hit its life time high of Rs 1175 a share.
Adding to the remarkable performance, year to date, the stock has given 38.61 per cent return much higher than the benchmark index, Sensex and Nifty which have given a return of 11.24 per cent and 12.86 per cent respectively.
Surging to a new all-time high in today’s trade, the life insurer’s market capitalisation reached Rs 7.34 lakh crore, securing its position as the eighth-largest listed company in India and the second foremost among government-listed PSU companies after State Bank of India.
Taking the stock’s current market price of Rs1,171.40 apiece, the stock is trading 21.71 per cent higher than its IPO price.
On the other hand, on a year to date basis, private life insurers like HDFC Life Insurance Company rose 6.31 per cent, ICICI Prudential Life Insurance Company rose 32.93 per cent and SBI Life Insurance Company rose 18.66 per cent.
LIC recorded a remarkable 28.11 per cent jump in Q1 premiums to Rs 57,440.9 crore.