LIC Surpasses ₹7 Lakh Crore Market Value, Climbs to Fifth Spot Among India's Most Valued Companies

The Life Insurance Corporation of India (LIC) has ascended to become the fifth most valued company in India, surpassing a market capitalization of ₹7 lakh crore. This milestone underscores the insurance giant's robust financial performance and growing influence in the Indian market. With shares surging by 6% on Friday, LIC's ascent reflects its resilience and strategic positioning in the financial landscape.

LIC's stellar performance is highlighted by a 49% year-on-year surge in standalone profit after tax, reaching ₹9,444 crore. Additionally, net premiums rose by 5% to ₹1,17,017 crore, demonstrating the company's sustained growth trajectory despite challenging market conditions.

The third quarter results further solidified LIC's position, with the value of new businesses soaring by an impressive 46% to ₹2,634 crore. This significant increase underscores LIC's ability to adapt to changing market dynamics and capitalize on emerging opportunities.

Over the past 12 months, LIC's stock has witnessed a remarkable surge of 86.26%, reflecting investor confidence in the company's prospects and management.

Reliance Industries Ltd maintains its dominance at the top of the market cap chart with an estimated valuation of ₹19.62 lakh crore. However, LIC's rise to the fifth position signals its emergence as a formidable player in the Indian corporate landscape.

Reliance Industries Ltd's diversified operations across energy, petrochemicals, retail, telecommunications, and natural resources have propelled its market valuation. During the third quarter of the fiscal year 2023-2024, Reliance Industries Ltd reported a 15% year-on-year increase in EBITDA to ₹407 billion, driven by robust performances in the retail and digital sectors.

LIC's achievement of surpassing ₹7 lakh crore in market value is a testament to its resilience, adaptability, and strong fundamentals. As it continues to expand its footprint and enhance its offerings, LIC is poised to play an increasingly pivotal role in India's financial landscape. With its upward trajectory, LIC exemplifies the potential for growth and success within the Indian insurance sector.

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