Public sector insurer Life Insurance Corporation of India (LIC) is no longer among the top ten companies by market capitalization as it has been replaced by Bajaj Finance and Adani Transmission. LIC is ranked 11th in the list, while Bajaj Finance and Adani Transmission have secured 10th and 9th position respectively in the overall ranking.
Adani Transmission entered the prestigious list of Top 10 Most Valuable Companies with a market value of Rs. 4.43 lakh crore on BSE as on August 30, 2022, exceeds Bajaj Finance’s total mcap 4.42 lakh crore and LIC’s 4.26 lakh crore.
lic share price It has declined sharply since its listing on the stock exchanges on May 17, 2022. LIC shares were allotted to investors 949 each and got listed on the stock exchanges at a discount. The stock is down nearly 29% from its initial public offering (IPO) issue price 949.
The state-owned life insurance company has reported a manifold jump in its net profit for the June quarter 682.9 crore as compared to 2.9 crore in the year-ago period. It reported 20% year-on-year (YoY) growth in net premiums, led by 35%/9% growth in new/renewal business, as easing of COVID-19 restrictions slowed sales of policies for the insurer. What is promoted depends largely on its agent.
However, the company said that compared to the previous March quarter, the performance was down in all parameters. The company, which runs its business mostly through 1.3 million sales agents, was hit last year by the pandemic-led lockdown that disrupted the work of its agents, who focused on in-person engagement. We do.
LIC steadily increased its market share in CY22. It launched two new non-PAR products in Q1 FY23. The management said it would focus only on the launch of non-PAR products. It also launched a channel-specific product for the first time.
Reliance Industries Limited (RIL) is the top valued Indian company with a market capitalization of 17.8 lakh crore, followed by Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever (HUL), ICICI Bank, State Bank of India (SBI) and HDFC.
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