Life Insurance Corporation of India, a government-owned insurance giant, has regained its status as the most valued public sector undertaking, surpassing the market capitalization of State Bank of India.
While SBI holds a market value of Rs 5.63 lakh crore, LIC has surpassed it with a market capitalization (MCap) of Rs 5.64 lakh crore. As of 9:30 am, the SBI stock witnessed a 1.5 percent decline to Rs 624, whereas LIC traded at Rs 896 on the BSE, showing a 0.2 percent increase. Concurrently, the benchmark BSE Sensex experienced a 1.02 percent loss, settling at 72,386 points.
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In 2023, LIC witnessed a remarkable gain of over 22%, and in the ongoing year, 2024, it has surged by an additional 7.5%. In contrast, SBI made modest progress with an advancement of nearly 5% in the previous year, but in the current year, it has incurred a loss of over 1%.
I…