The total amount of refund was Rs 25,464.46 crore. However, the Income Tax department released Rs 21,740.77 crore in February. In Q3 FY24, LIC reported a standalone net profit of Rs 9,444 crore for the quarter ended December 2023.
LIC s shares have surged 80% in the past three months, making it India s most valuable PSU company and the fifth most valuable Indian listed company. In today s trading session, the stock soared to another record high of ₹1,175 with a gain of 6.3%.
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).