lic share price today, Life Insurance Corporation of India (LIC) has overtaken State Bank of India (State Bank of India) According to Market capitalizationis being made Most Valuable PSU Stocks in India. This comes after the stock rose 9% last week.
Shares of LIC witnessed a rise of over 3% and hit a new 52-week high of Rs 919.45 on Wednesday, taking its market value above Rs 5.75 lakh crore. Meanwhile, an ET report said the market capitalization of SBI stood at around Rs 5.65 lakh crore during the morning session.
Last month, the Finance Ministry had exempted LIC from adhering to the 25% minimum public shareholding (MPS) norms till 2032. This discount has boosted the stock as it reduces the chances of a government offer for sale (OFS). As per SEBI regulations, all listed companies are required to maintain 25% public float. However, newly listed companies are given three years to fulfill this requirement. For companies with post-issue market capitalization of more than Rs 1 lakh crore, the timeline to meet the 25% MPS rule is five years.
In May 2022, the government sold 3.5% stake in LIC through an offer for sale worth about Rs 21,000 crore in the IPO, making it the largest IPO in India so far.
The recent surge in LIC shares comes after brokerage firms upgraded the company’s ratings. Emkay Global raised its target price on LIC to Rs 975 per share citing attractive valuations, growth revival in FY20 and the possibility of increased dividend.

LIC shares have moved into outperformance mode after its H1FY24 results, as the worst of the structural growth gap and persistent cost challenges appear to be receding, MK was quoted as saying. It said the upside is driven by favorable valuations, strong EV growth amid bullish equity markets, expectations of an improvement in growth in FY21 due to a favorable base, expanding product offerings and anticipation of significant dividend growth.
Geojit raised its price target on LIC to Rs 823 based on 0.65x FY25E embedded value per share.