LIC soars 9% to breach ₹1000-mark for the first-time ever: What's happening
LIC shares update: The shares touched a record high ₹1,028 apiece.
Shares of Life Insurance Corporation (LIC) soared 8.8% in today's intraday as India's largest life insurer crossed the ₹1000 level for the first time. The shares touched a record high ₹1,028 apiece.
How have LIC shares performed in the past months?
LIC shares experienced a notable upswing in November concluding with a substantial gain of 12.83%. This trend continued into the next two months, with a rise of 22.52% in December and 14% in January. On January 23, the company's shares exceeded the IPO price of ₹949 per share. Since then, the stock has maintained its upward momentum, achieving fresh record highs.
What's happening today?
As the shares surged to a new all-time high, LIC's market capitalization reached ₹6.50 lakh crore, securing its position as the sixth-largest listed company in India and the first among government-listed PSU companies. At 12, the stock was trading with a gain of 6.57% at ₹1,006.80 apiece.
