LIC extends rally, surges 23% in two weeks; hits highest level in CY 2023

The stock rallied 5% to Rs 750.55 on the BSE in the intraday trade, quoting close to its 52-week high level of Rs 754.40 touched on December 20, 2022

Shares of Life Insurance Corporation of India (LIC) rallied 5 per cent to Rs 750.55 on the BSE in Wednesday's intraday trade on the back of heavy volumes on an optimistic outlook. A combined 5.79 million equity shares have changed hands on the NSE and BSE till 10:23 AM.

In the past two weeks, the stock of the state-owned insurer has surged 23 per cent. 

The stock was quoting at its highest level in the current calendar year 2023, and close to its 52-week high level of Rs 754.40 touched on December 20, 2022. It has soared 41 per