Mumbai

On Friday, shares of Life Insurance Corporation of India (LIC) reached a new record high of ₹1,178.60 on the Bombay Stock Exchange (BSE), surpassing its previous peak of ₹1,175 set on February 9. LIC’s stock has surged nearly 80% over the past year, driven by strong operational performance and positive sentiment towards PSU shares. It has delivered a 38.61% return, significantly outperforming the Sensex and Nifty, which returned 11.24% and 12.86%, respectively.

With a market capitalization of ₹7.34 lakh crore, LIC is now the eighth-largest listed company in India and the second-largest among government-listed PSUs, after the State Bank of India. The current stock price of ₹1,171.40 is 21.71% above its IPO price.

In comparison, private insurers have seen varied growth: HDFC Life up 6.31%, ICICI Prudential up 32.93%, and SBI Life up 18.66% year-to-date. LIC’s revenue for FY 2023-24 was ₹8.46 lakh crore, up from ₹7.84 lakh crore in FY 2022-23, while profits increased from ₹35,997 crore to ₹40,885 crore.