In a significant development, Life Insurance Corporation of India (LIC) has overtaken State Bank of India (SBI) to become the most valuable Public Sector Undertaking (PSU) stock in India. This milestone comes one and a half years after LIC lost the title to SBI. The shift in market capitalization reflects the dynamic nature of the financial markets and the performance of these key players in the Indian economy.
LIC’s Market Cap Surpasses SBI: As of the latest update, LIC’s market capitalization stands at Rs 5.65 lakh crore, surpassing SBI’s market cap of Rs 5.6 lakh crore. The change in rankings is attributed to LIC’s recent strong performance in the stock market, with its shares experiencing a nearly 4% increase this month. In contrast, SBI has seen a dip in its stock value, losing around 2.5% in the same period.
India’s Top 5 PSU Stocks:
- Life Insurance Corporation of India (LIC):
- Founded in 1956, LIC is India’s largest insurance company.
- Market cap: Rs 5.65 lakh crore.
- Share price: Currently trading around Rs 892.
- State Bank of India (SBI):
- Established in 1955, SBI is India’s largest public sector bank.
- Market cap: Rs 5.6 lakh crore.
- Share price: Currently trading at Rs 624.
- National Thermal Power Corporation (NTPC):
- Founded in 1975, NTPC is engaged in electricity generation and distribution.
- Market cap: Rs 3.02 lakh crore.
- Share price: Currently trading around Rs 311.8.
- Oil and Natural Gas Corporation (ONGC):
- Founded in 1956, ONGC is India’s largest crude oil and natural gas producer.
- Market cap: Rs 2.93 lakh crore.
- Share price: Currently trading around Rs 233.
- Coal India:
- Established in 1975, Coal India Ltd is among the largest coal-producing companies globally.
- Market cap: Rs 2.35 lakh crore.
- Share price: Currently at Rs 381.
Market Dynamics and Recent Events: LIC’s resurgence in market capitalization follows a period of robust stock performance, while SBI has faced a decline in its stock value. The shift in rankings underscores the competitive nature of the financial sector. The recent success of LIC can be attributed to various factors, including its consistent growth and resilience in the market.
LIC’s reclaiming of the title as India’s most valuable PSU stock reflects its strong market position and investor confidence. As these financial giants continue to navigate market dynamics, their performance will be closely monitored, influencing the broader economic landscape in India.
Dhairya Saraswat