LIC slips for eighth consecutive day on sluggish progress, 24% beneath problem worth

Shares of Life Insurance coverage Company of India (LIC) proceed to stay underneath stress and closed 2.17 per cent decrease at Rs 721.95 in Thursday’s commerce on the BSE, after the insurance coverage firm reported a muted rise within the month of Could. ,

The state-owned insurer’s inventory traded decrease for the eighth consecutive buying and selling day and declined 14 per cent in the course of the interval.

The inventory is now buying and selling at its lowest stage since its launch on Could 17, 2022.

With the latest fall, the inventory now gives quotes at a major low cost of 24 per cent as in comparison with its problem worth of Rs 949 per share.

On the time of IPO, the allotment of shares to retail traders was Rs 905 per share, whereas policyholders acquired allotment at Rs 889 per share.

LIC is the one public sector life insurance coverage firm in India and the first opponents are personal life insurance coverage corporations in India.

Personal sector insurance coverage corporations are rising and gaining market share quicker than LIC. Analysts say there isn’t any assurance that LIC’s market share won’t decline additional.

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