LIC shares were listed on May 17, 2022, at a discount of 8.6% to the upper price band of Rs 949 per equity share. The stock was trading amid significant volumes with over 48.64 lakh shares changing hands on the NSE around 11:20 am. Extending Monday s gains, the stock has shot up 8% in two sessions.
LIC has a consensus 'buy' rating from the analysts, with 12 out of 15 experts having a 'buy' or 'strong buy' rating, while three analysts have a 'hold' rating on the stock.
Retail investors and company employees, who received a discount of Rs 45 per shares, are sitting at a wealth erosion of 37 per cent from their adjusted issue price of Rs 904.
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.
Shares of LIC on Tuesday dipped over 3 per cent after the company posted a 17 per cent decline in consolidated net profit for the fourth quarter ended March 2022.