LIC share price fall all time low, M-Cap Below Rs 5 Lakh Crore
Published On: Monday, June 6, 2022 | By: Team KnowMyStock
Shares of Life Insurance Corporation of India (LIC) hit an all-time low, falling 3 percent to Rs 776.1, on the BSE on Monday, which is 18 percent down from its IPO issue price of ₹ 949. With the fall in share prices, the market capitalization of the company also fell below Rs 5 lakh crore to Rs 4.98 lakh crore. It is now the seventh most valuable company in the country. LIC share is trading in the red for the fifth straight session. The scrip has slumped by around 7 percent in the last five sessions The decline in LIC shares is far sharper than the general decline in the market.LIC shares got listed on the stock exchanges on May 17. Since its listing, the scrip has closed in the positive four sessions. For the rest of the days, it witnessed selling pressure.
The stock is currently trading at a P/E ratio of an eye-popping 123.55, compared to HDFC Life Insurance Company Ltd which trades at a P/E of 96.81, or ICICI Pru Life Insurance Company Ltd shares which are demanding a P/E of 96.81.
Most analysts are neutral on the counter and don’t see much upside in it.
Emkay Global termed LIC as “the elephant that cannot dance” and said most of its growth is priced in. The broker added that its size, domination in the industry and legacy will continue to be hurdles for the share price to rise.
Tags: LIC all time down listing
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