LIC’s Mauritius branch temporarily closed due to Cyclone Eleanor; stock trades flat

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Life Insurance Corporation of India (LIC) has informed the stock exchanges that its Mauritius branch is closed temporarily from today, February 22, 2024, on account of Cyclone Eleanor.

The company has quoted in its regulatory filing that “the Mauritius Meteorological Services has issued a Class III warning for Cyclone Eleanor in Mauritius.”

Shares of LIC traded at ₹1,047.10 on the NSE, up by 0.73 per cent as of 12.02 pm. The stock had hit a 52-week high on February 9, 2024, at ₹1,175.

In addition, LIC recently received refund orders for seven assessment years from 2012- 13 to 2019-20. The total amount of refund was ₹25,464.46 crore, of which the Income tax Department has released ₹21,740.77 crore on February 15, 2024.