New Delhi, April 8 -- Life Insurance Corporation of India (LIC) share price jumped over 5.38% to Rs.783.25 apiece in Wednesday's trading session after the company said that the board will consider the issue of bonus shares next week.

The stock opened at Rs.780 in the early session today, as compared to the previous close of Rs.743.20 on Tuesday.

The stock rally also came after the Indian stock market jumped almost 4% on strong buying interest amid the US-Iran war ceasefire deal. The Sensex surged over 2,800 points, nearly 4%, reaching an intraday high of 77,392, while its NSE counterpart, the Nifty 50, climbed more than 800 points, or 3.5%, to hit a high of 23,939 during the session.

In an exchange filing on April 7, LIC said that the ...