Investors lose Rs 1.4 Lakh Crore after LIC stock hits all-time low
By MYBRANDBOOK
LIC slides to a new all-time low for the ninth day, hitting a fresh low of Rs 731.10 apiece on BSE. The market cap of the insurance company stood at Rs 4.61 lakh crore. Shares of LIC have wiped off almost one-fourth of investors’ wealth from the issue price of Rs 949.
The stock has wiped out more than Rs 1.4 lakh crore of wealth of investors so far. Shares of LIC got listed on May 17, and since then there have been just four sessions when the stock has closed with a gain, collapsing under selling pressure for the rest of the days.
The initial public offering of LIC, which was open for subscription from May 4 to May 9, was subscribed 2.95 times. The government-run LIC is by far the largest insurer in India. LIC's market cap has dipped from Rs 6 lakh crore to around Rs 4.57 lakh crore, which means LIC investors have lost around Rs 1.43 lakh crore in less than one month of LIC share listing.
The market share of LIC in individual policies was 74.60 percent for the financial year ended March 31, 2022. The market share of LIC as at the end of 31st March 2022 was 63.25 percent in composite First Year Premium income.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
Cisco committed to help build trusted, resilient future for or
Cisco is delivering on its promise of the AI-driven Cisco Security Cloud to
India continues to be a key contributor in Hitachi Vantara’s
The brand strategy of Hitachi Vantara is tied to further expanding the Hita
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
JUVAS SOLUTIONS PVT. LTD.
AGGRESSIVE ELECTRONICS MANUFACTURING SERVICES PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
NETWEB TECHNOLOGIES INDIA LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Sridhar Vembu
Sridhar Vembu is an Indian billionaire business magnate and the Founde...
Technology Icons Of India 2023: B.V.R. Subrahmanyam
B.V.R. Subrahmanyam belongs to Andhra Pradesh. He is a 1987-batch IAS ...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
PARTNER SPEAKERS
PSU
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
VIDEOS
Top 25 Brands
Value-Added Distribution
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
