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Market Cap411,947.10 Crore
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Open₹650.00
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Close₹651.30
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Circuit Range₹521- ₹781.55
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Day Range₹645.50- ₹653.00
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Year Range₹530.05- ₹754.25
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Volume651,991
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Avg. Traded₹648.75
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Key Indices in NSE
Frequently Asked Questions
What is the share price of Life Insura Corp Of India today on the NSE?
Life Insura Corp Of India share price is ₹646.65 today.
What is the share price of Life Insura Corp Of India today on the BSE?
Life Insura Corp Of India share price is ₹646.85 today.
What is ‘Today’s High & Low’ share prices of Life Insura Corp Of India on the NSE?
Life Insura Corp Of India stock price high: ₹653
Life Insura Corp Of India stock price low: ₹645.5
Life Insura Corp Of India stock price low: ₹645.5
What is ‘Today’s High & Low’ share prices of Life Insura Corp Of India on the BSE?
Life Insura Corp Of India stock price high: ₹652.8
Life Insura Corp Of India stock price low: ₹ 646
Life Insura Corp Of India stock price low: ₹ 646
What is the market cap of Life Insura Corp Of India shares today?
Life Insura Corp Of India has a market capitalization of ₹1.00 1.
What are the upper & lower circuit limits of Life Insura Corp Of India shares today on the NSE?
Life Insura Corp Of India Upper Circuit: ₹781.55
Life Insura Corp Of India Lower Circuit: ₹521.05
Life Insura Corp Of India Lower Circuit: ₹521.05
What are the upper & lower circuit limits of Life Insura Corp Of India shares today on the BSE?
Life Insura Corp Of India Upper Circuit: ₹781.4
Life Insura Corp Of India Lower Circuit: ₹521
Life Insura Corp Of India Lower Circuit: ₹521
What price did Life Insura Corp Of India shares open on the NSE today?
Life Insura Corp Of India opened at: ₹650 on the NSE today.
What price did Life Insura Corp Of India shares open on the BSE today?
Life Insura Corp Of India opened at: ₹649.25 on the BSE today.
What was yesterday 's closing price for Life Insura Corp Of India shares on the NSE?
Life Insura Corp Of India shares closed yesterday at ₹651.3 on the NSE.
What was yesterday 's closing price for Life Insura Corp Of India shares on the BSE?
Life Insura Corp Of India shares closed yesterday at ₹651.2 on the BSE.
What is Life Insura Corp Of India 52-week high and low share price on the NSE?
52 Week High: ₹754.25
52 Week Low: ₹530.05
52 Week Low: ₹530.05
What is Life Insura Corp Of India 52-week high and low share price on the BSE?
52 Week High: ₹754.4
52 Week Low: ₹530.2
52 Week Low: ₹530.2
What is Life Insura Corp Of India stock symbol?
The Life Insura Corp Of India Stock symbol is LICI.
Can I buy Life Insura Corp Of India shares on Holidays?
No, shares of Life Insura Corp Of India or any other publicly traded company cannot be bought or sold on holidays when the stock exchanges are closed. You can only buy or sell Life Insura Corp Of India shares on days when the stock exchanges are open for trading. It's important to check the NSE & BSE holidays calendar, before placing any trades to avoid any inconvenience.
About Life Insura Corp Of India
Though the concept of insurance has existed for more than 6,000 years around the world, its access to Indians was limited for the longest time, owing to its British rulers. However, in June 1956, the parliament of India passed the Life Insurance Corporation Act, which gave birth to the Life Insurance Corporation of India (LIC India) in September of the same year. The objective of the company was to spread information and policies as much as possible around the country, especially in rural areas, providing adequate financial cover to all at reasonable costs. Aside from its corporate office, LIC started with five zonal, 33 divisional, and 212 branch offices in 1956. As of today, apart from the corporate office, the corporation boasts 2048 fully computerised branch offices, 113 divisional offices, 8 zonal offices, and 1381 satellite offices. In its first year of operations, the company was able to do Rs. 200 crores of business, which had jumped to over 7,000 crore rupees in sum assured by the next 20 years.
Core Activities & Products
The core products offered by the company include:
- Insurance Plans: Including Endowment plans, Whole Life plans, Money Back plans, Term Assurance plans and Rider Plans.
- Pension Plans: Including Pradhan Mantri Vaya Vandana Yojana, LICs Jeevan Akshay - VII, New Jeevan Shanti and Saral Pension.
- Unit Linked Plans: Including LICs Nivesh Plus, SIIP and New Endowment Plus.
- Withdrawn Plans: Including LICs Jeevan Akshay VII, New Jeevan Shanti, Bachat Plus, Saral Pension, Aadhaar Stambh and Aadhaar Shila.
- Health Plans: Including LICs Cancer Cover and Arogya Rakshak.
- Micro Insurance Plans: Including Endowment plans like LICs Bhagya Lakshmi, New Jeevan Mangal and Micro Bachat Plan.
Board of Directors
- Shri. Mangalam Ramasubramanian Kumar, Chairperson
- Shri. Suchindra Mishra, Government Nominee Director
- Shri. Raj Kumar, Managing Director
- Shri. Siddhartha Mohanty, Managing Director
- Smt. Ipe Mini, Managing Director
- Shri. Bishnu Charan Patnaik, Managing Director
- Shri. Dr. Ranjan Sharma, Independent Director
- Shri. Vinod Kumar Verma, Independent Director
- Prof. Anil Kumar, Independent Director
- Smt. Anjuly Chib Duggal, Independent Director
- Shri. Gurumoorthy Mahalingam, Independent Director
- Shri. Raj Kamal, Independent Director
- Shri. Vankipuram Srinivasa Parthasarathy, Independent Director
- Shri. Vijay Kumar Muthu Raju Paravasa Raju, Independent Director
- Shri. Sanjeev Nautiyal, Independent Director
Presence
As of August 2022, LIC has operations all around India. These operations are undertaken through their eight zonal offices, 113 divisional offices, 2048 branches, 1572 satellite offices, 77 P&GS units, 4 SSS units, and more than 13,30,000 agents.
Registered Office
Yogakshema Building, Jeevan Bima Marg,
P.O. Box No – 19953, Mumbai – 400021
IRDA Reg No - 512
Strengths:
The strengths of the company that have affected the ICICI share price are:
- Brand Image: Being one of the pioneers in taking insurance to all corners of India, the LIC brand has garnered a good reputation over the years. In fact, in 2015, the Economic Times Brand Equity Survey named LIC India’s most trustworthy insurance provider.
- Asset Base: The corporation has over $150 billion in assets and is India’s largest investor, making it a significant player in the Indian financial system.
- Agent Network: LIC India has a total agent network of over 1,337,000, reaching every corner of India.
- International Subsidiary: The brand has a vast subsidiary network around the world that includes LIC Housing Finance Limited, LIC Cards Services Limited, LIC Nomura Mutual Fund, LIC (Nepal) Ltd, LIC (Lanka) Ltd, LIC (International), BSC, and LIC (Nepal) Ltd. (C).
- Financial Position: The corporation’s high renewal rates offer a clear view of future business and give excellent profitability. Its model is capital-efficient and thus, has low operating costs.
CSR and Sustainability
More and more corporate houses these days are seen focusing more on CSR projects. LIC, being a responsible Corporate Citizen, has been known to take up various CSR initiatives from time to time. The LIC Golden Jubilee Foundation, established in 2006, was also a part of the company’s Corporate Social Responsibility. Registered with the Charity Commissioner Mumbai and exempt under Section 80G of Income Tax, this foundation aims to promote education, health, relief from poverty, and advancement of general public utilities. Under these sectors, the foundation has supported various projects ranging from the construction of hospitals, schools, libraries, and more, to providing funds for infrastructural facilities for differently abled persons and providing transport for schools and hospitals. It has also supported a cochlear implant programme for children coming from weaker backgrounds through KEM Hospital, Pune. Moreover, the foundation has also reached out to aid people affected by natural calamities and support orphan children through various NGOs.Criticism
Though the corporation has years of goodwill and trust from its users, they still have certain criticisms that they need to look into.- Organisational Culture: Given its close association with the government, LIC has an extremely relaxed work culture. When compared to current private insurance firms, this can lead to it being left behind in the race. This association also leads to too many restrictions beset by bureaucratic hurdles.
- Poor Advertising Strategy: Compared to other commercial suppliers, the company spends less money on advertising, which is evident in the quality of the ads it distributes.
- Slow to Respond to Changing Needs: Due to the abundance of knowledge and information available with ease, a lot of customers have started to doubt their policies & insurances and the enterprise has been unable to serve them on time.
- Privacy issues: The ease at which information is available has led to many doubting the need for insurance entirely, which could lead to a fall in users in the near future.
COVID-19 Impact
The Initial Public Offering of LIC India was affected negatively due to the covid-19 spread and subsequent lockdowns. The total number of both, individual and group, policies dropped, from 62.43 million in FY20 to 10 million less in FY21. This 15.84% decline could be seen across FY20 and FY21.
Future Prospects
As of July 2022, the organisation made up almost 70% of the total market share in the insurance sector, giving it a huge edge over its competitors. Despite stiff competition, it has managed to keep a huge chunk of the market and is expected to continue to hold the number one position in this sector. In 2021, the corporation’s net profits had grown to Rs. 1437 crore, a massive jump from its beginnings. However, the company needs to keep a lookout for its competitors and pull up its socks to fight for its share in the market.