New Delhi: Life Insurance Corporation of India (LIC) jumped 2 per cent on February 19 afternoon on the National Stock Exchange after the insurance firm got a refund of Rs 21,740.77 crore from the Income Tax Department on February 15, 2024.
The refund is for assessment years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20. The total amount of refund was Rs 25,464.46 crore. However, the Income Tax department released Rs 21,740.77 crore in February. The corporation is pursuing a balance with the department.
At 1.30 pm, the stock was trading at Rs 1,056.55 on the National Stock Exchange, up 1.61 per cent from the previous close. In the past month, the stock has surged 17 per cent.
The insurer also launched a new product, Amritbaal, on February 17. It is a non-linked, non-participating, individual, and savings life insurance plan. It is aimed at parents who are looking to build a higher education for their children over the long term.
