Share price of Life Insurance Corporation of India (LIC) slumped to a new record low of Rs 723.70 on Thursday, which is nearly 25 per cent down from its IPO issue price of Rs 949.
Shares of Life Insurance Corporation of India (LIC), the country's biggest insurer and largest domestic financial investor, extended their fall for the eighth straight session on Thursday. The stock tumbled 2.17 per cent to settle at record closing low of Rs 721.95. It touched an all-time intraday low of Rs 720.05 on the BSE index. On NSE, LIC cracked 2.23 per cent to close at Rs 721.60. Considering today's closing figure, LIC has plunged 23.96 per cent from its issue price of Rs 949. The stock fell 14.19 per cent in eight consecutive trading days.