Shares of Life Insurance Corporation i.e. LIC fell by more than 2.50%. At the same time, the closing price is Rs 796.40. This shows a decline of 2.32% from a day earlier.
LIC News: Life Insurance Corporation of India (LIC) has given a big gift to lakhs of its agents. The insurance company has issued a notification increasing the gratuity limit for agents from Rs 3 lakh to Rs 5 lakh. This increase has been brought into effect by amending the Life Insurance Corporation of India (Agent) Regulations, 2017.
LIC said in a communication to the stock market that these rules may be called the Life Insurance Corporation of India (Agent) Amendment Regulations, 2023. These rules came into force from the date of their publication in the Official Gazette on December 6.
Finance Ministry had given approval
Let us inform that in September, the Finance Ministry had approved several welfare measures including increase in gratuity limit and family pension for the benefit of LIC agents and employees. The ministry increased the gratuity limit for LIC agents from Rs 3 lakh to Rs 5 lakh. Its objective is to bring about substantial improvement in working conditions and benefits for them.
Stake sold in Hero MotoCorp
Meanwhile, LIC has reduced its stake in Hero MotoCorp Ltd. The company’s shareholding has decreased from 22,491,571 to 18,482,495 equity shares. The company’s stake has decreased from 11.252 percent to 9.246 percent. The holding has decreased by 2 percent during the period June 13, 2022 to December 14, 2023. The holding has seen a decline at an average cost of Rs 3,416.52 during the period from June 13, 2022 to December 14, 2023.
Share condition: Last Friday, LIC shares fell by more than 2.50%. At the same time, the closing price is Rs 796.40. This shows a decline of 2.32% from a day earlier. This decline has come when the market is at its all-time high. However, LIC shares touched the level of Rs 820 on December 14. This is also the 52-week high of the stock.
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