HomeBusinessLIC shares hit new report low of Rs 723.70; one-fourth of market-cap...

LIC shares hit new report low of Rs 723.70; one-fourth of market-cap worn out

Published on

Share value of Life Insurance coverage Company of India (LIC) slumped to a brand new report low of Rs 723.70 on Thursday, which is almost 25 p.c down from its IPO challenge value of Rs 949.
On the BSE, Life Insurance coverage Company of India share was buying and selling 1.56 p.c down at Rs 726.50 at 12.42 pm towards its earlier day’s shut at Rs 738. The scrip hit a report low of Rs 723.70 within the intra-day.
The share value of LIC has fallen sharply since its itemizing on the inventory change on Could 17. LIC shares have been allotted to the traders at Rs 949 apiece. It received listed on the inventory exchanges at low cost. The very best degree it has touched is Rs 920.
There was constant erosion available in the market worth of the nation’s largest insurer.
On the challenge value of Rs 949 the market capitalisation of Life Insurance coverage Company (LIC) of India stood at Rs 6,00,242 crore.

On Thursday, the market capitalisation of LIC slumped to just about Rs 4.6 lakh crore.
In lower than one month of its itemizing, virtually one-fourth of LIC’s market worth has been worn out.
Since its itemizing, the scrip has closed within the optimistic 4 classes. For the remainder of the times, it witnessed promoting strain. The preliminary public providing of LIC, which was open for subscription from Could 4 to Could 9, was subscribed 2.95 occasions.
The federal government-run LIC is by far the biggest insurer in India. The market share of LIC in particular person insurance policies was 74.60 p.c for the monetary 12 months ended March 31, 2022. Within the Group enterprise the market share of LIC throughout 12 months ended March 31, 2022 was 89.07 p.c by variety of insurance policies/schemes and 76.16 p.c by first-year premium.
The market share of LIC as on the finish of thirty first March 2022 was 63.25 p.c in composite First Yr Premium earnings.

More like this

Pharma firm Cipla to extend stake in GoApptiv to 22 computer

Pharmaceutical firm Cipla will purchase a further stake price Rs 25.90 crore in digital...

RBI imposes Rs. 10 lakh penalty on The Tiruchengode Urban Bank

The Reserve Bank of India (RBI), has imposed a Rs 10 million penalty...

Centre receives 38 offline bids for industrial mining of coal

A complete of 38 offline bids had been obtained for industrial mining of coals...