LIC market cap dips below ICICI Bank to 7th spot among top-10 valuable companies
Premium- On Tuesday, LIC ended with a market cap of ₹5,13,273.56 crore whereas ICICI Bank ended with market capitalization of ₹5,22,519.50 crore
ICICI Bank overtook Life Insurance Corporation (LIC) of India to become India's 6th most valuable company in terms of market capitalization. LIC market cap now stands at 7th spot in the list of top 10 most valuable Indian companies. Housing Development Finance Corporation Limited or HDFC Limited stands at 8th spot whereas State Bank of India (SBI) is placed at 9th spot in the big boys club.
As per the BSE data, LIC ended on Tuesday with a market cap of ₹5,13,273.56 crore whereas ICICI Bank ended with market capitalization of ₹5,22,519.50 crore on Tuesday. HDFC Ltd. closely follows LIC with a market cap of ₹4,18,509.55 crore while SBI is at 9th spot with market valuations of ₹4,17,493.33 crore. Bharti Airtel stands at 10th spot in the big boys club with market cap of ₹3,85,046.03 crore.
Reliance Industries Limited or RIL continues to top the list with market capitalization of ₹17,81,838.68 crore, which is distantly followed by Tata Consultancy Services (TCS) with a market cap of ₹12,31,197.61 crore.
HDFC Bank continues to remain India's most valued bank with the market capital of ₹7,70,210.88 crore. It is placed at 3rd spot in the list of India's most valued companies in term of market valuations. Kotak Mahindra Bank is no more in the list of big boys club as it has slipped to 11th spot with market cap of ₹3,68,085.97 crore.
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LIC share price has been nosediving ever since it got listed on BSE and NSE. After listing at discount, the insurance titan has further come down and made its 52-week low of ₹801 on NSE, which is ₹148 per share lower from the upper band of its issue price of ₹949 per equity share. LIC share price today is around ₹815, around 14 per cent lower from its upper price band of ₹949 apiece.