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.
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