In a significant shift, the Life Insurance Corporation of India (LIC) has surpassed Infosys to secure the fourth position in market capitalization, with an impressive ₹7.01-lakh crore valuation. The displacement comes as LIC’s market cap outstripped Infosys, which now stands at ₹6.95-lakh crore.
This new positioning places LIC in the esteemed company of Reliance, TCS, and HDFC Bank, which currently hold the top three spots in India’s most valued firms.
The substantial surge in market capitalization for LIC is attributed to its robust equity profits in the bourses and a commendable operational performance. The insurance giant reported a remarkable 49 percent increase in standalone net profit for the quarter ending December 31, 2023, amounting to ₹9,444.41 crore, as opposed to ₹6,334.19 crore in the corresponding period.
This impressive growth underscores LIC’s resilience and strategic acumen in navigating the dynamic financial landscape. The company’s ability to capitalize on equity opportunities and deliver a robust operational performance has solidified its standing in the competitive market.
The reshuffling of the market cap hierarchy reflects the ever-changing dynamics of the Indian business landscape, where established entities like LIC demonstrate their adaptability and sustained growth. As LIC continues to reinforce its market presence, its performance will undoubtedly be closely watched by industry experts and investors alike.
