New Delhi: Shares of Life Insurance Corporation (LIC) rose nearly 10 percent on Friday, defying a soft trend in the broader market. The stock closed 9.69 per cent higher at Rs 677.65 on BSE. During the day it rose 10.35 percent to Rs 681.80. It closed at Rs 677.70, up 9.71 per cent on NSE. The market valuation of the company increased by Rs 37,855.12 crore to Rs 4,28,613.47 crore.
In terms of trading volume, 16.53 lakh shares of the company were traded on the BSE, and over 1.89 crore shares were traded on the NSE during the day.
The 30-share BSE Sensex closed 47.77 points or 0.07 per cent lower at 65,970.04 in highly volatile trade. Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.
Insurance major Life Insurance Corporation plans to launch 3-4 products in the coming months with an aim to achieve double digit growth in new business premium in the current financial year.
“We are projecting double digit growth compared to last year. We are going to achieve this as the recent trend is showing an uptick in personalized retail business. To further strengthen our commitment, we are launching some new exciting products. Going to launch, LIC Chairman Siddharth Mohanty told PTI in an interview.
In terms of market share measured by first year premium income, LIC continues to be the market leader in life insurance business with a total share of 58.50 per cent, according to IRDAI.
In terms of trading volume, 16.53 lakh shares of the company were traded on the BSE, and over 1.89 crore shares were traded on the NSE during the day.
The 30-share BSE Sensex closed 47.77 points or 0.07 per cent lower at 65,970.04 in highly volatile trade. Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.
Insurance major Life Insurance Corporation plans to launch 3-4 products in the coming months with an aim to achieve double digit growth in new business premium in the current financial year.
“We are projecting double digit growth compared to last year. We are going to achieve this as the recent trend is showing an uptick in personalized retail business. To further strengthen our commitment, we are launching some new exciting products. Going to launch, LIC Chairman Siddharth Mohanty told PTI in an interview.
In terms of market share measured by first year premium income, LIC continues to be the market leader in life insurance business with a total share of 58.50 per cent, according to IRDAI.
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