LIC Share Touches All-Time Low Today With Over 3% Fall; Stock Now Loses 20% From Issue Price

Shares of Life Insurance Corporation of India (LIC) continue their downfall even today as it hit a new all-time low during the intraday trade on Tuesday leaving investors panicked.

The current market price (CMP) of LIC is Rs 752.90 apiece on the NSE with a decline of 3.13% and on the BSE the price is 752.90 with a fall of 3.15% as of writing this report around 4:30 pm. Now the market capitalization of the stock stands at 476,272.

The IPO price of the stock was Rs 949 apiece. And, with today's fall the shares have fallen 20.76% since the IPO price.

The downward trend was seen yesterday also in LIC shares. The shares yesterday closed at Rs 777.40 apiece on the BSE with a loss of 2.86% and the total market capitalization fell below Rs 5 lakh crore at Rs 4.92 lakh crore. In one week, the shares of LIC has lost as much as 7.21%.

Today's decline in the share of LIC has triggered a dip of almost 18% from the IPO issue price of Rs 949.

Earlier, on May 17, 2022 LIC did not make an expected debut on the stock exchange with a little over 8% from the issue price. The IPO was subscribed 2.59 times.
Several factors are attributed to the ongoing downfall the prices of LIC shares right from volatile markets, weak global cues, soaring oil prices, and surging interest rates, among others.