Life Insurance Corporation of India (LIC) is the fifth largest Indian company in terms of market capitalization on the BSE, Reliance Industries Limited (1712023.67 crore), Tata Consultancy Services Limited (1263177.71), HDFC Bank Limited (93.64). cr).
The market cap of India’s largest life insurer stood at 5,53,721.92 (5.54 lakh crore) at the close on the BSE.
In this process, insurance has been transferred to Hindustan Unilever Limited (527530.23 crore), ICICI Bank (493752.60 crore), State Bank of India (417091.72 crore), Housing Development Finance Corporation Limited (397233.71 crore) and Rs. )
The LIC stock, which debuted on the stock exchange, was listed at Rs 867.20 on the BSE and Rs 872 on the NSE.
The stock was listed at about 9 percent discount. The stock closed at Rs 875.45 on the BSE, down 7.7 per cent from its last listed price. The intraday high was Rs 920 while the intraday low was Rs 860.10.
Watch G Business Live TV streaming below:
Despite a strong momentum, the stock traded negatively, confirming that the benchmarks ended with gains for the second day in a row.
The headline index Nifty50 and the S&P BSE Sensex rose 2.6% and above 2.5% as all 50 stocks in the Nilphip Nifty index and 30 shares of the Sensex were comfortably green. The Nifty 50 closed above 16,250 and the Sensex added 1300 points to close at 54,300.
LIC IPO: The initial public offering for India’s largest initial public offering (IPO) opened on May 4 and ended on May 9. The LIC has set a price band of Rs 902-949 per share for the equity issue. The offer includes a reservation for eligible employees and policyholders. Retail investors and eligible employees were given a discount of Rs 45 per equity share before the launch while policyholders received a discount of Rs 60 per share.