New Delhi: Life Insurance Corporation of India (LIC) has overtaken State Bank of India (SBI) to become the most valuable PSU company in the country. market assessment on Wednesday. shares of LIC It rose 3 per cent to hit a 52-week high of Rs 919.45 in intra-day trade on BSE. However, it later pared its gains and closed 0.63 per cent lower at Rs 886.90. stock of State Bank of India Fell 1.67 percent to Rs 626.15.
The market capitalization of LIC stood at Rs 5,60,964.05 crore, which is Rs 2,149.47 crore more than that of SBI at Rs 5,58,814.58 crore. LIC stood ninth in the ranking of top ten most valuable companies.
Reliance Industries leads the list of the country’s most valuable company with a market valuation of Rs 18,42,160.54 crore.
Others on the list are:
TCS- Rs 14,21,230.44 crore
HDFC Bank – Rs 11,66,888.98 crore
ICICI Bank- Rs 6,87,740.99 crore
Infosys- Rs 6,80,631.89 crore
Bharti Airtel – Rs 6,10,389.59 crore
Hindustan Unilever – Rs 6,02,388.21 crore
ITC- Rs 5,82,423.61 crore
LIC- Rs 5,60,964.05 crore
SBI- Rs 5,58,814.58 crore
The country’s largest insurance company was listed in May 2022. The government had sold over 22.13 crore shares or 3.5 per cent stake in LIC through the initial public offering (IPO). The government has 96.5 percent stake in the company.