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In terms of market capitalization, LIC topped Rs 5.8 lakh crore mark on Wednesday at the price of Rs 919.45, race-pasting State Bank of India's total valuation of Rs 5.67 lakh crore for the day.
LIC last week reported a near fourteen-fold surge in first-quarter profit, as it moved money to a shareholders' fund to shore up its bottom-line.
LIC has a consensus 'buy' rating from the analysts, with 12 out of 15 experts having a 'buy' or 'strong buy' rating, while three analysts have a 'hold' rating on the stock.
LIC stock gained 3.56 per cent to Rs 706.50 against the previous close of Rs 682.15 on BSE. Motilal Oswal has assigned a target price of Rs 830, a 22 per cent upside to Friday's close of Rs 682.