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Sunday, June 16, 2024

Investors weep over Rs 1.93 lakh crore loss as LIC share price declines

LIC investors are reportedly experiencing significant financial losses. The shares of LIC have experienced a significant decline of 39.92% in comparison to the issue price in BSE. Similarly, in NSE, the LIC share price has also decreased by 39.93%.100

In a major setback for investors, the country’s largest insurance company, Life Insurance Corporation of India (LIC), has witnessed a sharp decline in the value of its shares. Within a year of its listing in the stock markets, the company’s shares have plummeted by nearly 40 percent, resulting in a staggering loss of approximately Rs 1.93 lakh crore.

On May 17, 2022, the public insurance company LIC’s shares were officially listed on the stock market. During that period, the shares were listed at a discount of eight percent in comparison to the issue price of Rs 949. The stock’s value was recorded at Rs 872 on the Bombay Stock Exchange and Rs 867.20 per share on the National Stock Exchange.

In a recent development, the Indian government has reportedly raised a whopping Rs 20,557 crore through the initial public offering (IPO) of Life Insurance Corporation (LIC). The initial public offering (IPO) was the largest ever seen in the nation.

After completing a year of being listed in the stock market, the prices of the company have significantly decreased on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The shares of LIC have experienced a significant decline of 39.92% in comparison to the issue price on the BSE. Similarly, on the NSE, the price of LIC shares has also decreased by 39.93%.

LIC shares concluded trading on Wednesday at Rs 570.10 per equity, representing a modest increase of 0.48%. In contrast, the equity shares of the company concluded at Rs 570 on the NSE, exhibiting a 0.44 per cent increase.

Over the past year, LIC’s shares have fluctuated between a high of Rs 920 and a low of Rs 530.20. Throughout the year, the issue price of Rs 949 remained unattainable. LIC’s market capitalisation witnessed a significant decline on Wednesday, plummeting to Rs 3,60,588.12 crore from its initial valuation of approximately Rs 5.54 lakh crore during the day of its listing.

The company has experienced a significant decline in its market capitalisation, amounting to Rs 1,93,411.88 crore. The market valuation of LIC has dropped, resulting in the company now ranking 13th in the market. Simultaneously, it ranked among the top five companies during its initial public offering.

Taushif Patel

Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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