LIC hits 19-mth high, up 7% on getting 1-time exemption to achieve 25% MPS

Shares of Life Insurance Corporation of India (LIC) hit a 19-month high of Rs 820.05 as they rallied 7 per cent on the BSE in Friday's intraday trade supported by heavy volumes, after the Finance Ministry gave the company a one-time exemption from the 25 per cent public shareholding rule.

A combined 4.25 million equity shares of the company have already changed hands in the first 20 minutes of trading on the NSE and BSE, exchange data shows. The stock of the state-owned life insurer was quoting at its highest level since May 31, 2022. With today's gain, the stock has

First Published: Dec 22 2023 | 10:02 AMIST