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.

Updated on: Feb 5, 2024, 12:22:14 IST

By HT News Desk

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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.

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HT News Desk
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