LIC gains 4%, hits over 3-month high in subdued market

The government aims to appoint a private sector professional as the first chief executive of the LIC in an effort to modernise its largest insurer after a disappointing stock market debut

Shares of Life Insurance Corporation of India (LIC) hit over three-month high of Rs 695.85, gaining 4 per cent on the BSE in Monday's intra-day trade, in an otherwise subdued market. The stock of the state-owned insurer was trading at its highest level since August 18, 2022. At 02:18 PM, LIC shares were up 3 per cent at Rs 691.35, as compared to 0.34 per cent decline in the S&P BSE Sensex.

The stock was trading higher for the fourth straight day, surging 7 per cent during the period, on report that the government aims to appoint a private