The country's biggest insurer, LIC, saw its stock surge 78% in just the past one year on strong operational performance and all-round positive sentiment towards PSU stocks.
Shares of LIC quoted Rs 1,101 at a price that was last recorded at the counter on July 18, 2023, when the stock quoted Rs 620.
LIC's revenue has been pegged at Rs 8.46 lakh crore for FY 2023-24, where this was pegged at Rs 7.84 lakh in the last financial year. The profit of the company has also surged from Rs 35,997 crore to Rs 40,885 crore.
Now, if one looks at the stocks of other companies in the insurance sector, it depicts a mixed trend. HDFC Life Insurance has registered nearly minus two per cent for one year as previous year it was in Rs 656 compared to Rs 645 presently.
In the case of SBI Life Insurance, this turned out to be a 24% return—one of the best in a year—as the share price rose from Rs 1,314 as on July 18, 2023, to Rs 1,628 as on July 18, 2024.
In turn, ICICI Prudential Life Insurance gave a 12% yield, increasing from Rs 574 on July 18, 2023, to Rs 642 on July 18, 2024.
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