LIC BEATS SBI in Market Valuation

In a dazzling financial showdown under the spotlight, the Life Insurance Corporation of India (LIC) gracefully outshone the State Bank of India (SBI), securing its position as the nation’s most esteemed government-owned entity based on market valuation.

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With shares waltzing to a melodious tune, LIC orchestrated a mesmerizing performance, soaring 3 percent to reach a symphonic 52-week high at Rs 919.45 on the BSE stage.

However, as the final curtain descended, the encore played a softer note, and LIC gracefully took its bow at Rs 886.90, a mere 0.63 percent lower.

The financial theater witnessed LIC’s spellbinding act, making it the star of this captivating market drama.

LIC Beats SBI as SBI’s stock took a downward dip, sliding by 1.67 percent to Rs 626.15 per share.

• In the financial arena, LIC emerged as a heavyweight with a market capitalization of Rs 5,60,964.05 crore, surpassing SBI’s valuation by Rs 2,149.47 crore, which stood at Rs 5,58,814.58 crore.
• In the grand scheme of the market, LIC gracefully claimed the 9th spot among the top 10 most-valued firms, adding another feather to its illustrious cap.

Reliance Industries proudly stands as the country’s most valued firm.

• Reliance Industries leads as the most valued firm in the country with a market valuation of Rs 18,42,160.54 crore.
• TCS follows closely behind with a market valuation of Rs 14,21,230.44 crore.
• HDFC Bank secures the third position with a market capitalization of Rs 11,66,888.98 crore.
• ICICI Bank holds the fourth spot with a market valuation of Rs 6,87,740.99 crore.
• Infosys ranks fifth in the list with a market capitalization of Rs 6,80,631.89 crore.
• Bharti Airtel is in the sixth position, commanding a market valuation of Rs 6,10,389.59 crore.
• Hindustan Unilever stands in the seventh position with a market capitalization of Rs 6,02,388.21 crore.
• ITC secures the eighth spot with a market valuation of Rs 5,82,423.61 crore.
• LIC proudly holds the ninth position with a market capitalization of Rs 5,60,964.05 crore.
• SBI completes the top ten list with a market valuation of Rs 5,58,814.58 crore.

In the symphony of financial markets, the grand curtain lifted for the country’s premier insurer in May 2022.

The government orchestrated this spectacle by parting with more than 22.13 crore shares, relinquishing a 3.5 percent stake in LIC through an enchanting Initial Public Offering (IPO). Despite this graceful share dance, the government retains its role as the main maestro, still holding an impressive 96.5 percent stake in the company.

The IPO marked not just a financial performance but a significant chapter in LIC’s journey onto the public stage.