LIC shares break the ₹1,000 barrier for the first time

Shares of Life Insurance Corporation or LIC witnessed a remarkable intraday surge of 8.8% on Monday, surpassing the ₹1000 milestone to reach a record high of ₹1,028 per share.

After a relatively subdued performance following its listing in May 2002, LIC shares have experienced a notable turnaround since November 2023, concluding the month with a substantial gain of 12.83%.

This positive trend continued into December with an impressive rise of 22.52%, followed by another surge of 14% in January.

On January 23, LIC's shares surpassed the IPO price of ₹949 per share, and since then, the stock has maintained its upward momentum, consistently achieving fresh record highs. Last month, LIC surpassed State Bank of India to become the country's most valued PSU firm by market capitalisation.