LIC surpasses SBI in market cap to become India's most-valued PSU stock after a solid stock rally. LIC's market value crosses Rs 5.75 lakh crore, while SBI's is around Rs 5.65 lakh crore. The finance ministry exempted LIC from the 25% minimum public shareholding (MPS) norms till 2032, reducing the possibility of an offer for sale. Brokerages upgraded LIC with buy calls, citing attractive valuation, growth revival in FY25, and potential increase in dividend.