1.93 lakh crore loss to LIC 2023?
1.93 lakh crore Loss to LIC 2023?
New Delhi: It has been a year since Life Insurance Corporation of India (LIC) started trading on the country’s stock exchanges on Wednesday. During this period, LIC’s share price fell by 40 per cent from its issue price, wiping out investors’ wealth of Rs 1.93 lakh crore.
20,557 crore through an initial public offering (IPO) in 2022 for LIC. After that, it started trading in the stock exchanges on May 17. LIC’s share price on the Mumbai Stock Exchange (BSE) fell 39.92 percent from its issue price of 949. The share price on the National Stock Exchange (NSE) saw a decline of 39.93 per cent compared to the issue price.
1.93 lakh crore loss to LIC 2023?
570.10 per share on BSE and 570 per share on NSE by the close of trading on Wednesday. In one-year trading, it hit a 52-week high of 920 and a 52-week low of 530.20. But the issue price could not cross 949. BSE Sensex gained 7,242 points (13.33 percent) and Nifty 1,922 points (11.82 percent) during the period. It was ranked 5th in the list of most valuable companies in the country with a market value of Rs 5.54 lakh crore on the day it started trading. Currently the company is trading at the 13th position.