LIC out of the top 10 most valued firms, replaced latest by Bajaj Finance, Adani Transmission
Life Insurance Corporation of India (LIC) is no longer on the list of the top 10 registered companies in terms of market capitalization (m-cap). It is replaced by Adani Transmission and Bajaj Finance. As of now, LIC holds the 11th spot on the list. While Bajaj Finance and Adani Transmission have bagged the 10th and 9th spots respectively, in the overall ranking.
Various key reasons are being made responsible for the deteriorating performance of the LIC and its decreasing shares. A few unstable activities in the equity market are one of the reasons that have led to a downtrend and decrease in the LIC shares.
Rising inflation fears mixed with unsure investment feelings over falling financial development in the past months have also obstructed LIC shares. The weak monthly outcomes posted for March 2022 by LIC have played a role in the fall of its exchange and trade.
Rumors suggest that its share prices are yet to see a slight upward trend after falling 23% since its listing on May 17. Adani Transmission got a place in the desired list of the top 10 businesses with a market worth of ₹4.43 lakh crore on the BSE on August 30, 2022. While Bajaj Finance’s total m-cap is ₹4.42 lakh crore and LIC’s ₹4.26 lakh crore, as confirmed by the sources.
Details about the Company and its downfall
LIC manages resources of over Rs 41 lakh crore. It had launched a Rs 20,500 crore initial public offering (IPO) in early May before listing on 17 May. This IPO is now proven to be a blunder of India’s largest insurer. Once in its history, LIC had entered the stock market as India’s 5th most valued company, having an m-cap of Rs 5.48 lakh crore.
But at present, LIC’s m-cap stands at Rs 4.26 lakh crore and is positioned in the 11th spot on the list. The fall in the evaluation of LIC is a setback for its main investor, the Government of India, and extra dilution in the company may fall short of its divestment strategies. The firm’s share values on Tuesday closed at Rs 753 apiece. There was a drop of 29% when compared to its allotted IPO price of Rs 949.
LIC is confirmed to have a sharp drop in its consecutive periodical profit. It decreased to 683 crore in Q1FY2023 from Rs 2,371 crore in Q4FY2023. The company reported a successive fall in every important field. Mukesh Ambani’s company RIL is still the nation’s most-valued firm with an m-cap of Rs 17.8 lakh crore, then comes Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, and SBI.
The new corporate value of LIC fell more than 80% from Rs 9,920 crore to Rs 1,861 crore in March. On an annualized basis, its total share stood at Rs 10,270 crore, with a 62.8% share of specific partitions. The company saw a 59% surge in plan sales in the June compared to a last year.
However, RIL’s market capitalization is now pointedly lesser than the competing Adani Group of billionaire Gautam Adani. As per the BSE data, the m-cap of Adani group was Rs 16.94 lakh crore on July 29 last month and Rs 20.32 lakh crore on August 30.
Facts on LIC’s Fall from the list of valued Indian Companies
- The biggest insurer’s share prices have dropped since its listing on the stock and trade. The stocks will now be given to investors at ₹949 respectively.
- This state-run life insurance company has noted a jump in its June quarter net profile at ₹682.9 crores.
- Reliance Industries Limited is on the top with a market capitalization of ₹17.8 lakh crore. Then we have Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, and SBI.
- It reported 20% year-on-year progress in the net premium led by 35% development in the new corporate.
As said earlier, LIC now ranks eleventh. The new top 10 appreciated companies in India now are Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bajaj Finance, and Adani Transmission.
The firm said that when compared with the previous March quarter, the exchange was down across various limits. Life Insurance Corporation of India runs it’s corporate mostly through 1.3 million sales agents and managers. They all were hit by pandemics and lockdowns that disturbed the agents and their work.
Life Insurance Corporation of India (LIC) is no longer on the list of the top 10 registered companies in terms of market capitalization (m-cap). It is replaced by Adani Transmission and Bajaj Finance. As of now, LIC holds the 11th spot on the list. While Bajaj Finance and Adani Transmission have bagged the 10th and 9th spots respectively, in the overall ranking.
Various key reasons are being made responsible for the deteriorating performance of the LIC and its decreasing shares. A few unstable activities in the equity market are one of the reasons that have led to a downtrend and decrease in the LIC shares.
Rising inflation fears mixed with unsure investment feelings over falling financial development in the past months have also obstructed LIC shares. The weak monthly outcomes posted for March 2022 by LIC have played a role in the fall of its exchange and trade.
Rumors suggest that its share prices are yet to see a slight upward trend after falling 23% since its listing on May 17. Adani Transmission got a place in the desired list of the top 10 businesses with a market worth of ₹4.43 lakh crore on the BSE on August 30, 2022. While Bajaj Finance’s total m-cap is ₹4.42 lakh crore and LIC’s ₹4.26 lakh crore, as confirmed by the sources.
Details about the Company and its downfall
LIC manages resources of over Rs 41 lakh crore. It had launched a Rs 20,500 crore initial public offering (IPO) in early May before listing on 17 May. This IPO is now proven to be a blunder of India’s largest insurer. Once in its history, LIC had entered the stock market as India’s 5th most valued company, having an m-cap of Rs 5.48 lakh crore.
But at present, LIC’s m-cap stands at Rs 4.26 lakh crore and is positioned in the 11th spot on the list. The fall in the evaluation of LIC is a setback for its main investor, the Government of India, and extra dilution in the company may fall short of its divestment strategies. The firm’s share values on Tuesday closed at Rs 753 apiece. There was a drop of 29% when compared to its allotted IPO price of Rs 949.
LIC is confirmed to have a sharp drop in its consecutive periodical profit. It decreased to 683 crore in Q1FY2023 from Rs 2,371 crore in Q4FY2023. The company reported a successive fall in every important field. Mukesh Ambani’s company RIL is still the nation’s most-valued firm with an m-cap of Rs 17.8 lakh crore, then comes Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, and SBI.
The new corporate value of LIC fell more than 80% from Rs 9,920 crore to Rs 1,861 crore in March. On an annualized basis, its total share stood at Rs 10,270 crore, with a 62.8% share of specific partitions. The company saw a 59% surge in plan sales in the June compared to a last year.
However, RIL’s market capitalization is now pointedly lesser than the competing Adani Group of billionaire Gautam Adani. As per the BSE data, the m-cap of Adani group was Rs 16.94 lakh crore on July 29 last month and Rs 20.32 lakh crore on August 30.
Facts on LIC’s Fall from the list of valued Indian Companies
- The biggest insurer’s share prices have dropped since its listing on the stock and trade. The stocks will now be given to investors at ₹949 respectively.
- This state-run life insurance company has noted a jump in its June quarter net profile at ₹682.9 crores.
- Reliance Industries Limited is on the top with a market capitalization of ₹17.8 lakh crore. Then we have Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, and SBI.
- It reported 20% year-on-year progress in the net premium led by 35% development in the new corporate.
As said earlier, LIC now ranks eleventh. The new top 10 appreciated companies in India now are Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bajaj Finance, and Adani Transmission.
The firm said that when compared with the previous March quarter, the exchange was down across various limits. Life Insurance Corporation of India runs it’s corporate mostly through 1.3 million sales agents and managers. They all were hit by pandemics and lockdowns that disturbed the agents and their work.
