Life Insurance Company (LIC) is out of the top 10 companies by market capitalization as it has been replaced by Bajaj Finance and Adani Transmission. LIC has dropped to 11th position in the list, Bajaj Finance at 10th, and Adani Transmission at 9th position. Adani Transmission entered the top 10 list with a market value of ₹4.43 lakh crore on the BSE, which is higher than Bajaj Finance’s total mcap of ₹4.42 lakh crore and LIC’s ₹4.26 lakh crore.
Key Points related to LIC’s Fall from the list of valued Indian Companies
- The LIC share prices have fallen sharply since its listing on the stock exchange and LIC shares will be allotted to the investors at ₹949 apiece.
- LIC, which is a state-run life insurance behemoth has reported a multifold jump in its June quarter net profile at ₹682.9 crores.
- It also reported 20% year-on-year growth in the net premium led by 35% growth in the new business.
- Reliance Industries Limited (RIL) is on the top of the list of valued Indian Companies with a market capitalization of ₹17.8 lakh crore, followed by Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever (HUL), ICICI Bank and State Bank of India (SBI).