Share Market Today: Today the share market is trading on the red mark. In this fall trading, LIC shares are trading with a rise of 7 percent. This rally took LIC shares to a 52-week high. LIC has been given the freedom to achieve 25 percent MPS within 10 years.
Shares of the country’s government insurance company Life Insurance Corporation ( LIC ) are trading rapidly today. Today the company’s shares are trading with a rise of 7 percent. Last Thursday, the government has given LIC permission to acquire 25 percent MPS within 10 years.
Today on BSE the company’s stock is trading at Rs 820.05 per share with a rise of 7.25 percent. The company’s shares reached a 52-week high. At the same time, the company’s shares are trading 7.39 percent higher at Rs 821 per share on NSE.
At the time of writing the news, LIC shares were trading at Rs 799.75 per share, up 35.25 points or 4.61 percent.
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Because of this the stock rose
On December 21, 2023 (Thursday), the government has given LIC permission to achieve 25 percent MPS within 10 years. Let us tell you that LIC is the largest insurance company in the country. The company’s shares were listed last year in May 2022. The government had sold 3.5 percent stake in LIC through IPO. The company had sold more than 22.13 crore shares in this stake.
The government has 96.5 percent stake in LIC . In a stock exchange filing, LIC said the Department of Economic Affairs has decided to grant “one-time exemption to LIC for acquiring 25 per cent MPS within 10 years from the date of listing, i.e. by May 2032”.
