After a disappointing debut on listing day in May 2022, LIC’s shares continued to bleed and reach new all-time lows in the past 4 months. Recently LIC shares have again hit an all-time low mark on 21st October 2022.
LIC’s shares slumped 2% to a new record low of Rs 588 on both the NSE and BSE during intra-day trading today, and closed at Rs 588.95 on the NSE and Rs 589.30 on the BSE.
Considering closing figures, LIC’s share price has plunged more than 32% on both the BSE and NSE, since the day it got listed after IPO.
LIC’s share has been battered badly since launch of its maiden IPO. This weakens investors and policyholders confidence. LIC must take necessary measures and tighten seat belt by improving profitability, rationalising expenses, and increasing market share. It will be very difficult to raise money by LIC if it do not takes proper measures in time.
