LIC Share Price NSE 24 December 2023: A Record High!
📈 LIC share price has been soaring for the past few weeks, reaching a consecutive 7% increase and reaching ₹820.05 per share. This comes after the recent significant relief offered by the central government, which has led to a strong surge in the company’s shares. In addition, LIC’s market capitalization has crossed the ₹5 lakh crore mark.
🔥 Government’s Relief: LIC, the country’s largest public sector insurance company, has stated that the government has provided a one-time exemption to fulfill the 25% minimum public shareholding norms. With this, the insurance company can now fulfill the minimum public shareholding within 10 years from the date of listing. As per SEBI regulations, a company must fulfill the minimum public shareholding criteria of 25% within three years of listing or within one year of merger/acquisition.
📊 Allocation of LIC Shares: The IPO price range for LIC was set at ₹902-₹949, while the shares were allocated at ₹949. On May 17, 2022, the company’s shares were listed on the Bombay Stock Exchange at ₹867.20 and on the National Stock Exchange at ₹872. This resulted in significant losses for investors during the listing.
💰 Impressive Performance: LIC shares are still trading above their IPO price, with a growth of nearly 35% in the past two months. On October 26, 2023, LIC shares were trading at ₹604.95, and on December 22, 2023, they reached ₹820.05, marking a new high for the company. The 52-week low for LIC shares is ₹530.20.
🚀 Exciting Times Ahead: With the continuous increase in LIC share prices and the government’s support, investors can look forward to promising returns. LIC’s strong market presence and the recent relief offered by the government have contributed to the bullish trend in the company’s shares.
💡 Stay Updated: Keep a close eye on LIC’s share price as it continues to make headlines in the market. Investors and enthusiasts are eagerly watching the performance of the country’s largest insurance company, which has shown remarkable growth in recent times.
(Note: This news article is for informational purposes only and does not provide any financial advice. Investors are advised to do thorough research and consult with a financial advisor before making any investment decisions.)
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