LIC rises on getting green signal for proposal to setup branch office in GIFT City
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Life Insurance Corporation of India is currently trading at Rs. 793.30, up by 11.90 points or 1.52% from its previous closing of Rs. 781.40 on the BSE.
The scrip opened at Rs. 784.40 and has touched a high and low of Rs. 794.65 and Rs. 784.05 respectively. So far 73438 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 820.05 on 22-Dec-2023 and a 52 week low of Rs. 530.20 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 820.05 and Rs. 746.15 respectively. The current market cap of the company is Rs. 500117.57 crore.
The promoters holding in the company stood at 96.50 % while Institutions and Non-Institutions held 0.94 % and 2.56 % respectively.
Life Insurance Corporation of India (LIC) has received approval for a proposal to setup a Branch Office of the Corporation at International Financial Services Centre, GIFT City, Gandhinagar, Gujarat. The Board of Directors of the Corporation, vide Resolution by Circulation, on December 26, 2023 approved the same.
LIC's presence in the Gujarat International Finance Tec (GIFT) City-International Financial Services Centre (IFSC) will enable the company to expand its global business. At present, GIFT IFSC is the maiden international financial services centre in India.
Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.
