LIC stock gets boost after PSU receives refund of Rs 21,740.77 crore from I-T department
The insurance firm got a refund of Rs 21,740.77 crore the Income Tax Department for FY13 to FY20. The biggest PSU by market size is still talking to the Income Tax Department for the remaining money.
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LIC Share Price: Life Insurance corporation of India (LIC) jumped in morning deals on BSE on Monday (February 19, 2024) after the insurance firm got a refund of Rs 21,740.77 crore from the Income Tax Department for FY13 to FY20.
The stock was trading higher by 2.59 per cent, or Rs 26.90, at Rs 1066.30 at 9:39 am on Monday.
The stock that traded at Rs 1039.40 at close on Friday opened at Rs 1081.40 on Monday to hit the day's high of Rs 1130. The stock's day's low is Rs 1061.55.
The biggest PSU by market size is still talking to the Income Tax Department for the remaining money.
The company's market value stood at Rs 6,74,434.50 crore at the time of writing this story.
Amritbaal launch
The company also launched a new product LIC's Amritbaal in the domestic market.
It will be available for sale on February 17.
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