Posted 1/17/2024, 11:29:00 PM
LIC Becomes India's Most Valued PSU, Stock Rallies 46% Benefiting IPO Retail Investors
- LIC's market capitalization surpasses SBI's to become the most valued PSU at Rs 5.61 lakh crore
- LIC stock price has rallied 46% since November 22 low of Rs 609 to now trade at Rs 887
- Retail and employee investors in LIC's IPO are now seeing profits for the first time since listing
- Government divested 3.5% in LIC through its IPO, raising Rs 21,009 crore earlier this year
- Brokerage reports predict LIC stock outlook remains positive on potential market share gains and cost control