ICICI Bank Ovetakes LIC to be India’s 6th Most Valuable Company

Share Us

403
ICICI Bank Ovetakes LIC to be India’s 6th Most Valuable Company
02 Jun 2022
min read

News Synopsis

ICICI Bank has overtaken India's Life Insurance Corporation (LIC) to become India's sixth most valuable company by market capitalization. LIC's market capitalization is currently ranked 7th on the list of 10 most valuable Indian companies.

According to BSE data, LIC closed on Tuesday with a market capitalization of Rs 5,13,273.56 crore, and ICICI Bank closed on Tuesday with a market capitalization of Rs 5,22,519.50 crore. 

HDFC Ltd. follows LIC with a market capitalization of Rs 4,18,509.55 crore, and SBI ranks 9th with a market capitalization of Rs 4,17,493.33 crore. Bharti Airtel has ranked 10th in the big boys club with a market capitalization of Rs 3,85,046.03 crore.

Reliance Industries Limited or RIL remains at the top of the list with a market capitalization of Rs 17,81,838.68 crore, followed by Tata Consultancy Services (TCS) with a market capitalization of Rs 12,31,197.61 crore.

LIC's stock price has skyrocketed since it was listed on BSE and NSE. After listing, the insurance giant fell further, reaching a 52-week low at the NSE of Rs 801. This is Rs 148, which is below the issue price limit of Rs 949 per share. LIC's share price is around Rs 815 today, about 14% below its maximum price of Rs 949 per share.

TWN In-Focus