The country’s largest insurer LIC is the fifth most valuable company in the country with a market capitalisation of about Rs 5.54 lakh crore.
Life Insurance Corporation (LIC) made a tepid stock market debut on Tuesday following a mega IPO which fetched Rs 20,557 crore to the exchequer.
The shares listed on stock exchanges at over 8 per cent discount over its issue price of Rs 949 apiece.
Shares of LIC closed at Rs 875.45, down Rs 73.55 or 7.75 per cent over the issue price, on the BSE.
At this price, LIC is valued at nearly Rs 5.54 lakh crore.
The market capitalisation of LIC is higher than that of HUL (Rs 5.27 lakh crore), ICICI Bank (Rs 4.94 lakh crore), SBI (Rs 4.17 lakh crore) and HDFC (Rs 3.97 lakh crore), as per the BSE data.
Reliance Industries is the most valued company with a market capitalisation of Rs 17.12 lakh crore, followed by Tata Consultancy Services (Rs 12.67 lakh crore), HDFC Bank (Rs 7.29 lakh crore) and Infosys (Rs 6.38 lakh crore).
Market capitalisation is the total valuation of the company based on its current share price and the total number of outstanding stocks.
It is an indicator of the fundamental strength of the company.