Shares of ICICI Lombard General Insurance Company hit a record high during the day Monday, with its market valuation inching close to Rs 50,000 crore mark.

The company's stock gained 1.14 per cent to close at Rs 1,048.80 on the BSE. During the day, it jumped 2.41 per cent to Rs 1,062.

At NSE, shares went up by 0.57 per cent to close at Rs 1,042.

Led by the rise in stock price, the company's market valuation rose by Rs 562.03 crore to Rs 47,648.03 crore on the BSE. With this, the company's market capitalisation (m-cap) is just Rs 2,351.97 crore away from Rs 50,000-crore mark.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)