LIC hits lowest level since listing; shares down 32% from issue price

In the past three months, the stock of LIC has declined 3 per cent, as against 14 per cent rally in the benchmark index

Shares of Life Insurance Corporation of India (LIC) hit a new low of Rs 648, down nearly 1 per cent on the BSE in Thursday's intra-day trade. The stock of the state-owned insurance company has fallen below its previous low of Rs 650, which it had hit on June 20, 2022.

LIC now trades 32 per cent below its issue price of Rs 949 per share, and is at its lowest level since market debut on May 17, 2022. Since its listing, LIC continued underperforming the market with wide margin. In the past one month, the stock has shed