LIC share price falls further: What should investors do now

Life Insurance Corporation of India (LIC) share price fell more than 4% due to BSE and NSE. The insurance giant’s share price fell more than 270 rupees from the initial public offering (IPO) price of 949 rupees.

This came as the Sensex fell 2.54% or 1,377.33 points to 52,926.11, and the Nifty fell 2.47% or 399.80 points to 15,802.

Meanwhile, the market capitalization of LIC fell to Rs 4,28,202 crore (Rs 4.28 lakh crore).

LIC shares were listed through a successful IPO. On the day of listing, LIC’s share price closed at Rs 875.45.

LIC SHARE PRICE

LIC’s share price on BSE was Rs 678, down 4.47% or 31.70 points. On the NSE, LIC’s share price was Rs 678, 4.47% or 31.70 points.

LIC LOCK PERIOD

The blocking period ends on June 13. The period allows investors to sell their shares in the market. LIC had raised over Rs 5,627 crore from flagship investors.

Ravi Singh, Vice President and Head of Research, Share India, told Business Today that LIC’s share price could fall to the Rs 650 level. that in the long term, LIC’s business metrics will steadily improve. Investments made at lower levels will yield good long-term returns,” he said.

Manoj Dalmia, founder and director of Proficient equities Private limited, told Business Today that if the stock continues like this, it could drop further to Rs 634 levels. Investors have to wait for some consolidation to see a reversal, he said.

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