In a month, LIC stock down 15%, out of top 10 in market capitalisation

Shares of Life Insurance Corporation (LIC) of India hit fresh record lows on Monday amid sustained decline in Adani Group stocks. Its stock finished at Rs 567.8, down 2.9 per cent over its previous close.

The state-owned insurer’s market value is now down Rs 2.4 trillion, or 40 per cent, compared to initial public offering levels.

In the past month, shares of LIC have plunged 15 per cent — the most among mega caps. LIC’s market capitalisation ranking has now slipped to 12, from 6 at the time of listing. 

Even though Adani Group stocks account for less than 1