LIC Share Price 📈✨
LIC, India’s leading public sector insurance company, witnessed a remarkable surge in its share price. The company’s shares soared by 7% and reached Rs. 820.05, marking a new 52-week high for LIC’s shares in the life insurance sector. This positive momentum comes after the government announced significant relief measures, resulting in a strong rally in insurance company stocks.
Market Capitalization 💰
In addition to the surge in share price, LIC’s market capitalization has crossed the remarkable milestone of Rs. 5 lakh crore. This achievement further demonstrates the market’s confidence in LIC’s growth potential and its standing as a key player in the insurance sector.
Relief Measures by the Government 🏛️
The government has provided a substantial exemption to LIC in order to fulfill the minimum public shareholding norms of 25%. This exemption allows LIC to meet the requirement of minimum public shareholding within a period of 10 years from the date of listing. As per SEBI regulations, companies are required to fulfill the minimum public shareholding criteria of 25% within three years of listing or one year from the date of merger/acquisition.
IPO and Listing 📊
LIC’s IPO was priced in the range of Rs. 902 to Rs. 949 per share. The company allocated shares at Rs. 949 during the IPO. On May 17, 2022, LIC’s shares were listed on the Bombay Stock Exchange at Rs. 867.20 and on the National Stock Exchange at Rs. 872. Since then, the performance of LIC’s shares has been consistently impressive.
Steady Growth ✅
LIC’s share price continues to outperform its IPO price, with a growth of nearly 35% in the past two months. From trading at Rs. 604.95 on October 26, 2023, the shares have surged to Rs. 820.05 as of December 22, 2023. This represents a remarkable increase of Rs. 215.10 per share. The 52-week high stands at Rs. 820.05, while the 52-week low is at Rs. 530.20.
Investor Confidence 🤝💼
The consistent growth and positive sentiment surrounding LIC’s shares reflect the confidence of investors in the company’s performance and long-term prospects. The surge in share price and market capitalization signals a positive outlook for LIC and further strengthens its position as a leader in the insurance industry.
With the government’s support and the company’s strong fundamentals, LIC is well-positioned to continue its upward trajectory and deliver value to its shareholders.
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