LIC Overtakes SBI, Reaches ₹5.8 Trillion Market Cap Milestone

By S Sut - Updated On 22-03-2024

LIC Overtakes SBI, Reaches ₹5.8 Trillion Market Cap Milestone

The Life Insurance Corporation of India (LIC) has surged ahead of the State Bank of India (SBI) in terms of market capitalization. In Wednesday’s morning trade, LIC’s share price increased by more than 2%, propelling its market capitalization to ₹5.8 trillion. At ₹919.45 per share, LIC’s valuation surpassed that of SBI.

This shift occurred when LIC’s share price entered the stock market at ₹5.62 crore.

Last year, starting from November, LIC’s share price had been consistently rising. Within these few months, it witnessed a 50% increase in its share price.

Although LIC’s share price had declined after listing in March last year, it rebounded impressively. Eventually, it reached ₹530 per share, dispelling any concerns. Experts predict that LIC will continue its upward trajectory in the coming months. In November, it unexpectedly rose by 12.83%.

In December, this trend continued, with a remarkable surge of 22.66%. Since the beginning of the current year, LIC’s share price has maintained a robust growth rate of 10%. Despite being larger in size compared to other companies, LIC’s share remains attractive due to its consistent performance.

The company’s strategic decisions, whether related to regular or non-regular business, have the potential to further enhance its share value. Notably, LIC also offers life insurance policies, making it a versatile player in the market.

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