Following Thursday’s surge in LIC shares, the second-largest PSU by market capitalization rose another 19% this week.
During the day, LIC shares hit a 52-week high of Rs 800 on the NSE and Rs 799.90 on the BSE, taking the state-run insurance company’s market capitalization above Rs 500,000 crore.
In terms of volume, 1.55 billion shares were traded on the NSE and 5.66 billion shares were traded on the BSE during the day.
Meanwhile, the 30-share BSE Sensex closed 132.04 points or 0.19 per cent lower at 69,521.69 points, while the Nifty fell 36.55 points to 20,901.15 points.
However, the company’s market capitalization at the close of trading was just short of Rs 500,000 crore of the BSE benchmark of Rs 4,960 crore.
Analysts say LIC has regained a market capitalization of Rs 5,000 crore on the back of hype around its non-par product Jeevan Utsav.
“We believe LIC has a strong marketing agency. While the focus has been on flat insurance, the agency team has the ability to sell non-flat insurance as well,” the analyst said. There is,” he said.