LIC stock achieves Rs 1,000 milestone; hits an all-time high on BSE; soars near 94% in over 10 months

LIC Share Price: The stock of Life Insurance Corporation India (LIC) crossed the barrier of Rs 1,000 for the first time since its listing on BSE as it surged to an all-time high of Rs 1027.95 on Monday.

The stock of India's biggest life insurer closed higher by 5.33 per cent, or Rs 50.35, at Rs 995.00 on Monday. 

The company's market value at the same time stood at Rs 638192.27 crore.

The company is set to report its December quarter results on February 8, 2024.

After the share price surge in the recent past, LIC has become India's largest public sector undertaking (PSU), beating State Bank of India.

SBI's M-cap as of writing stands at Rs 577556.26 crore.  

LIC's shares were listed on bourses on May 17, 2022. The stock that had a price band of Rs 949, but it listed at an eight per cent discount. Ever since, it could never scale the heights of Rs 1,000, but it bridged the gap on Monday.

LIC Share Performance

The stock of the company has risen by 20.74 per cent in the last one month; 51.77 per cent in the six months and 65.83 per cent in the last one year.

The LIC stock outperformed the benchmark Nifty 50 by a large margin. The benchmark has been up by 1.14 per cent in the last one month; 11.03 per cent in the six months and 22.49 per cent in the one year. 

LIC's stock was at a 52-week low of Rs 530.20 on March 29, 2023. From there, its surge till today's all-time high is 93.88 per cent.