LIC rallies 6% on heavy volumes; stock inches towards record high

The stock hit an intra-day high of Rs 1,062.60 on Friday, and has bounced back 21 per cent from last week's low of Rs 880.70 touched on June 4.

Shares of Life Insurance Corporation of India (LIC) moved higher by 6 per cent to Rs 1,062.60 on the BSE in Friday’s intra-day trade amid heavy volumes. The stock of state-owned life insurance company had hit a record high of Rs 1,175 on February 9, 2024. The stock has bounced back 21 per cent from its previous week’s low of Rs 880.70 touched on June 4.

At 12:09 pm; LIC was trading 5.9 per cent higher at Rs 1,061, as compared to 0.08 per cent rise in the BSE Sensex. The counter witnessed huge trading volumes, with