LIC’s shares hit a record ₹900 for the first time since their May 2022 listing, marking a significant milestone.

This surge represents a 5.30% increase in today’s trading, setting a new 52-week high for the stock.

After a tough start post-listing, with a low of ₹530, LIC’s stock has impressively rebounded since March 2023.

The company’s market value has skyrocketed by ₹1.84 lakh crore since November, now standing at ₹5.64 lakh crore.

Financially, LIC reported a healthy net profit of ₹17,469 crore in the first half of FY24, slightly up from ₹16,635 crore a year ago.

The company’s new business premium also saw a modest growth, indicating steady business progress.

In a strategic move, the government extended the deadline for LIC to meet the minimum public shareholding requirement to 10 years.

LIC recently launched a new product, LIC Jeevan Utsav, expected to boost its margins.

Overall, LIC’s strong performance and government support hint at a promising future for the insurer’s stock.