A strong rise is being seen in the shares of LIC. The company’s shares opened with a rise of 6 percent in Friday’s trading session. The stock touched a high of Rs 1175 at the beginning of the trading session. Due to this, the market cap of the company increased to Rs 6.99 lakh crore. With this market cap, LIC has become the fifth largest company in the country.
At present, LIC is the largest company in the country in terms of market cap after Reliance Industries, TCS, HDFC Bank, Infosys. The market cap of the company has become more than that of companies like SBI and ITC.
Upward trend in LIC
In recent times, there has been a tremendous rise in the shares of LIC. LIC has given a return of 12.84 percent in the last 5 trading sessions. The stock has given returns of 30 percent in one month, 68 percent in six months and 77 percent in one year to its investors. At the same time, since the beginning of this year till now the share price has increased by 26.33 percent.
December quarter results were released by LIC on Thursday. The company has reported a profit of Rs 9,441 crore during the October-December period. The company’s premium income has increased to Rs 1.17 lakh crore. An income of Rs 13,163 crore has been generated from new premium during this period. The AUM of the company has increased to Rs 49.66 lakh crore. It was worth Rs 44.34 lakh crore last financial year. There has been an increase of 11.98 percent. A dividend of Rs 4 per share has been declared by the company.
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