Rs 7 Lakh crore: LIC beats ICICI Bank to be fifth most valued company

MUMBAI: A stock rally spanning two and a half months that added nearly Rs 3.2 lakh crore to life insurance major LIC‘s market value, on Thursday, made it the fifth most valued company in India. At the close of trade on BSE, LIC’s market cap was just a tad below Rs 7 lakh crore, ahead of ICICI Bank, which was at Rs 6.9 lakh crore and just behind Infosys at Rs 7.02 lakh crore, data from the bourses showed.
For a brief period during the day, as LIC’s stock hit a life-high of Rs 1,144, the life insurer was the fourth most valued company in the country, ahead of Infosys. But at close of the session, as its stock price dipped a bit from the earlier high, it settled at the fifth spot.
Currently, with a market cap of Rs 19.6 lakh crore, Reliance Industries is the most valued company in the country, followed by TCS at Rs 15.1 lakh crore and HDFC Bank at Rs 10.7 lakh crore. During the day, the stock price gained almost 6% to close at Rs 1,106. In the last two and a half months, the stock has gained 82%, BSE data showed.

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