LIC share price: State-run life insurance stock slumps to record closing low

LIC share price: Shares of state-run insurance behemoth Life Insurance Corporation (LIC) hit a record low on Monday, falling for the seventh day in a row. LIC shares fell by as much as Rs 18.7 or 3.2 per cent to hit an all-time low of Rs 566 apiece on BSE during the session, before settling at Rs 567.8 apiece for the day — a record closing low. 

At the current level, LIC shares are available at a discount of 40 per cent to the upper end of their IPO price range. Having completed nine-odd months on Dalal Street, LIC shares have failed to command a premium in the secondary market over the IPO price. 

Also Read: LIC Investors ‘Spooked’ Over Rout In Adani Stocks, Insurer’s Investments In Latter’s Firms Turn Negative

According to Zee Business research, as of February 23, LIC's investment of Rs 31,127 crore in various Adani group firms has lost more than 40 per cent of its value.

Also Read: LIC's net income jumps manifold to Rs 8,334.2 crore in December quarter

LIC share price: History

The LIC stock has gyrated in a range of Rs 354 — between Rs 566 and Rs 920 — during this period.  It has fallen 13.5 per cent in the past one month as against a 0.4 per cent decline in the Nifty50 benchmark index. 

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