LIC s m-cap crossed the Rs 7 lakh crore mark for the first time on Thursday to become India s fourth largest stock by beating ICICI Bank and Infosys. The value of LIC shares is now double that of its next 3 listed competitors - HDFC Life (Rs 1.3 lakh crore), SBI Life (Rs 1.49 lakh crore) and ICICI Prudential Life Insurance (Rs 76,000 crore).
LIC, which was struggling to cross its IPO price of Rs 949 in 2022, has now breached the Rs 1,000 mark with analysts gunning for more gains ahead on expectations of growth revival in FY25. The possibility of a steep change in dividend will continue to support its share price performance.