Life Insurance Corporation (LIC) is India’s largest insurance company. The company was listed on the exchange on 17 May 2022 with ₹875.25. But the exciting part about the stock is that LIC share has marked marvelous growth in today’s intraday session. The stock has surged over 5.30% in a day. Currently, the LIC share price is ₹893.50 but it touched the level ₹900 with a sharp movement. Let’s unveil everything about this LIC share all-time high and why it has surged to its 52-week high.
As per the latest news, LIC has sold over 3.73 crore shares of Adani Group which may be the reason behind its sharp rise in the share price. LIC had a majority share of the Adani group before selling this quantity. Now, what will be the impact of this news on the LIC stock in the future days, and how retail investors will see it?
The stock has been under pressure till March 2023 and made its all-time low at ₹530. But from November 2023. LIC is currently in a 12.83% surge since from Nov 2023. Now discussing the current month, the stock is standing at over 7.51% so far.
In the financials stats, LIC has reported around ₹17,493 cr in the H1FY24 which was a gain compared to the net profit of ₹16,635 in the previous financial period of the same quarter. Now it will be interesting to see, will this surge continue in the upcoming days and whether LIC hold this momentum or will lose its bullish face again.
In the H1FY24 the asset under management (AUM) has been increased to ₹47,43,389 cr as compared to ₹42,93,778 cr. Also, LIC Q3 results FY24 are yet to come. So, the details about its quarter 3 results will be available on our website. Stay tuned for the updates.