LIC tops Rs 1,000-mark; Can rally another 13% suggests tech chart

The stock has rallied over 67 per cent since late November, and looks to be favourably placed on multiple time-frames as per the technical charts.

Life Insurance Corporation of India (LIC) on Monday topped the Rs 1,000-mark for the first time ever. The stock had debuted on the bourses in September 2022, after issuing shares at Rs 904 each for retail investors. 

Simultaneously, the largest insurer in India had issued shares to qualified institutional buyers (QIBs) and high net worth individuals (HNI) at Rs 949 apiece following its maiden share sale. Existing policyholders had received the shares at a discounted price of Rs 889.

Post issue, as of December 2023, the President of India, the promoter of LIC held 96.50 per cent stake in the