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LIC Surpasses SBI: Emerges as Most Valuable PSU Stock with ₹5.65 Lakh Crore Market Cap, Hits All-Time High at ₹918

LIC Surpasses SBI as Most Valuable PSU Stock, Achieving All-Time High

Life Insurance Corporation of India (LIC) has reclaimed its position as the most valuable Public Sector Undertaking (PSU) stock, surpassing State Bank of India (SBI).

LIC shares reached an all-time high of Rs. 918.45 in today’s trading, propelling the company’s market cap to over ₹5.65 lakh crore. Meanwhile, SBI’s shares experienced a decline of approximately 2%, resulting in a market cap of ₹5.61 lakh crore.

LIC’s Remarkable Stock Performance

Over the last six months, LIC shares have delivered an impressive return of over 44% to investors. In the past year, the stock has seen a gain of more than 26%. Notably, LIC shares are now up by 67% from their 52-week low of 530.

IPO Impact and Financial Snapshot

LIC’s IPO, launched on May 4, 2022, involved the government selling a 3.5% stake, amounting to Rs 21,000 crore. The IPO was listed at Rs 867, and the price band was fixed at Rs 902-949.

The positive momentum in LIC’s shares was further fueled by changes in Minimum Public Shareholding (MPS) norms in December. The finance ministry granted LIC additional time to meet the SEBI-mandated 25% public shareholding requirement by 2032.

As LIC continues to make strides in the market, its robust financial performance underscores its significance as a leading player in the insurance sector.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.