Market valuation of eight of top-10 firms jumps Rs 2,10,330.26 crore
Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerged as the biggest gainers.
Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerged as the biggest gainers.
In the last week (May 20-24), nine of the top-10 most-valued firms together added Rs 1,85,320.49 crore in market valuation.
The LIC is grateful to all its policyholders and stakeholders who have reposed their faith in LIC for almost seven decades, the LIC said in a statement.
The overall high valuations of the market is creeping into PSU stocks too
Life Insurance Corporation of India Ltd can now own up to 9.99% stake in HDFC Bank as the Reserve Bank of India has approved the insurer’s application.
At 9.30 AM, the SBI stock declined 1.5 per cent to Rs 624, while LIC traded at Rs 896 on the BSE, up 0.2per cent.
In a victory for Life Insurance Corporation (LIC), the Income Tax Department has issued a refund intimation of Rs 25,464.46 crore for seven assessment years.
Life Insurance Corporation of India has received orders for Rs 3,528 crore from Income Tax authorities regarding Income Tax demand issued by Assistant Commissioner of Income Tax, Mumbai.
"The Unique Identification Number (UIN) for LIC’s Jeevan Utsav Plan is 512N363V01," said the LIC in a statement.
The India’s largest insurer posted a profit after tax of 79.25 billion Indian rupees ($951.41 million) for the quarter ended Sept 30, compared to 159.52 billion rupees a year ago.